As long as the gain you incur from the sale of your property AND the investment with bonus depreciation occur in the same calendar year, it's possible to defer all of the tax exposure you would otherwise have.  

These newbies don’t realize the reason many got in trouble 15 years ago was 100% financing and real estate prices dropped and these loans were to unqualified peopleBasically this is the same thing as these people are not qualified to own a home but paid $10k on some course that most likely sells a lifestyle and some fairytale scenario that occurs once in a blue moon.

This occurs and could have been vindictive tenants or simply a robbery.

assuming work completes after closing.In the event of an audit, is it a red flag if we claim an "improvement" after the closing date occurred?   

Sounds like you (or prior owners) failed to mitigate damage by allowing this to occur over a long period of time.

You deal with other people savings, and if some problems occur, you might have huge problems with the SEC.Please don't take my comment as negative, it's quite the opposite.

Hi Mary, you wouldn't need to worry about that if it occurs within the same calendar year.

These are because of major developments occurring and proximity to hots spots like Brickell, Wynwood, and the beaches.  

If I were a lawyer there is no way I take this case not because it would be hard to win but because of the consequences that would occur. 

For those that don't have experience with an LLC, I can't emphasize this point enough - you can NOT co-mingle your personal and LLC holdings whatsoever, otherwise your LLC could be worthless if a lawsuit were to occur.