You’re correct that prior year losses generally can't offset W-2 income, but any new depreciation from cost segregation studies on properties in 2024 should be eligible.

I need to study all the options.

I have not heard of the IRS challenging, much less overturning a professionally done cost segregation study. 

Are you utilizing any cost segregation studies/real estate professional status to lower the taxable income?

I appreciate everyone's feedback but I am still curious if there are any professional PM's with case studies.

Market Research: Study the local market trends, job growth, and property appreciation to ensure long-term profitability.

Can anyone recommend resources for studying or analyzing markets outside of the United States? 

(ICF Global Coaching Study (2019): Rates and trends for coaching in high-net-worth areas.)

A cost segregation study was performed on this single family home in West Palm Beach, FL purchased in 2023 with a depreciable cost basis of $841,850.

So, your CPA is correct in saying that the insurance proceeds won't be taxable assuming they were used to repair or replace the damaged portion of the property.Cost Segregation Study (CSS): A CSS is a tax planning tool that allows you to accelerate depreciation deductions by identifying and reclassifying certain components of your property as shorter-lived assets.