I guess about the only thing that would worry me the most would be that if you add to the existing building, and if the city code has changed since after the initial build, then they are gonna want you to make all the necessary changes to the existing portion of the pemb.

After doing some initial research, I decided to check out some zip codes in Philly as that's an hour's drive from where I live - 19132, 19133, 19134.

Hi Adriana, I did a quick search on that zip code and trend data is showing it's a Sellers almost balanced market.

My properties have usually been in the 39206 and 39212 zip codes which are a mixed bag.

Section 179 of the Internal Revenue Code allows businesses to deduct the full purchase price of qualifying equipment and software up to an annual limit.In 2024, for example, taxpayers can expense up to $1,220,000 of qualified assets.This election can apply to many types of tangible personal property, such as machinery, equipment, and off-the-shelf software, which are used predominantly in your business.Limits on Section 179 ExpensingAs attractive as Section 179 may seem, there are limits.For tax year 2024, the maximum investment limit is set at $3,050,000.If your business places more than this amount in service, the amount you can expense is reduced dollar-for-dollar over this threshold.In addition to the dollar and investment limits, the amount of your Section 179 deduction cannot exceed your taxable business income for the year.This means that even if your business invests heavily in qualified property, the deduction could be limited by the business’s profitability.Also, not all property qualifies for Section 179.Real property, like buildings and structural components, generally does not qualify unless it is "qualified improvement property."

This is generally code for they invested $25k in a sponsor's project among a few million dollars of syndicated preferred equity capital and it generally is in some type of hoped-for reposition project. 

This refers to IRS Code Section 280A which allows up to 14 days of rental income without paying at taxes.

So, create status codes for both of these and a few in-between codes to help you work smarter, not harder.

That's why Baselane has 120 real estate only categories so you don't have to code any classes or anything like that.

These are professionals with additional training and a stricter code of ethics.