So my brief side note is only added because Sean's post could be misinterpreted.It's not like the Senate had a problem with bonus depreciation.

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories.The Cost Segregation Study was performed on the Asset Depreciation Range (ADR) and is based on a 40% tax bracket for State and Federal Taxes.

I've not looked at what I could get for rent ahead of time, like you have, but it's a large apartment with 1 bedroom, 2 other rooms (office plus bonus room, etc) plus a brand new open concept kitchen, with its own separate entrance and garage access. 

Bonus checks like that sure, but that's when tapping some of the equity accruals. 

We develop and the returns are great but your exposure is significant.  

bonus points if it somehow links to quickbooks so it's easier to keep them aligned.Alternative question: CPAs - what tools/formats do you prefer your clients to use to give you the information needed, so you can calculate their depreciation?

That 1st mailer, or billboard, is an "exposure" piece.

So we refi’d or sold to reduce debt exposure due to our perception of the economy.  

In which case I would worry about legal exposure.

Bonus: Find homes that can be easily divided into 2 units (e.g. main house upstairs with separate downstairs area including bedroom, bathoom, wet bar and separate entrance).