In addition to identifying owner-financed homes, they can negotiate better interest rates and terms with the seller and assist you in completing the transaction.

Additionally, your wife's citizenship status should not impact your qualification for the exemption as long as she is a resident alien with a valid Social Security number.

@Costin I.Here's an article with additional FAQs on cost segregation studies that you may find helpful:https://www.biggerpockets.com/forums/51/topics/1113749-cost-segregation-faqAs Michael mentioned, you need to use your cost basis in the property for a cost segregation study.

Check for any encumbrances or liens on the property: Before finalizing the purchase, make sure to conduct a thorough title search to ensure that there are no encumbrances or liens on the property that could affect your ownership rights.While you can start with a California Real Estate Purchase Agreement template, it's important to remember that each transaction is unique, and you may need to include additional provisions or negotiate specific terms with the seller.

If this time goes over, please send pictures of additional messes, call the property manager etc. 

Appreciation means rent appreciation in addition to the value of the property.

Additionally, you may want to consult with a real estate attorney or financial advisor to ensure the deal is structured in a way that is advantageous for you.

We will need to perform all new MEP work in addition to updating the finishes.

In addition to learning by experience, you could be forming a rock-solid partnership that could offer resources and options you didn't otherwise have. 

Now that this property is renovated and rented, will you continue to purchase additional properties?