Does the K-1 show depreciation allocated by % ownership?

All expenses directly incurred for the ADU are 100% allocable to the rental unit. 

Of that 50M, 25M was allocated for the construction of a new recreational faculty that has since been completed.

Is the $230/mo cash flow after allocating for vacancy and cap ex?

If you want to change to cost seg allocations in 2023, the 3115 essentially calculates what amount would have been taken in prior years had the cost seg allocation been used for those years, then it backs out what was actually taken to arrive at the catch up amount (called a 481(a) adjustment).

This implies it should be allocated a maintenance/cap ex cost.  

She basically said that they do not allocate any money for vacancy because they tell you how to get great tenants (but even the best lose their jobs I have found). 

As long as the purchase price of the part allocated meets your reinvestment target. 

.- Look at the allocation and make some assumptions about cash flow and growth. - Iterate on at least 3-5 more sheets of paper until it feels right. - Back everything about your financial plan into that end state. - NOW, run your draft plan by a CFP or three. 

I bid $300k with $500k rehab allocation but someone bid $390k.