Mitigation Strategies:Consider qualifying as a Real Estate ProfessionalGenerate passive income through strategic investmentsPlan property dispositions to release suspended lossesMake appropriate grouping electionsStructure leases to demonstrate active participationThe Bottom Line:Cost segregation studies remain a valuable tax planning tool.

To support my seller and seize a valuable opportunity, my business partner and I decided to purchase the property ourselves.

Monetarily, their time is valuable.  

I attended the RALA 3-day training in Phoenix and took a couple of online courses as well, and while I found these courses to be very valuable in helping get a clearer understanding of the space and what it might take to be successful, I eventually I found it most beneficial to bring in a partner/advisor who has built residential assisted living facilities here in Texas and has been running them successfully.

I look forward to connecting with other investors and building valuable relationships within this community.

Your old carpet did not become more valuable over the seven years you owned the property, even if you are selling for a gain.

@brian dance Thank you so much for your valuable suggestions. 

You don't have to fit into a traditional "avatar" box to bring valuable insight, so don't sell yourself short. :)This is especially true if you rely on furnishedfinder.com as your primary lead source (which you shouldn't, but that's another post) as when you make that connection with a prospective resident, you are selling yourself as a landlord as much as you are the property as a place to live.

You and your husband are definitely in the right place to get valuable information.

These things going to court you have to Steel Man the argument and if you can do that with a good base for your side being in the right/wining the argument then you may be able to win in court.