Income is $600,000 per year and husband and wife both work full-time non real estate jobs.Is it true that the tax benefits are greater, or realized more quickly, on purchases like furniture or televisions to itemize a rental property, when they are made AFTER the date the property is put in service?

You think losing a $20k EMD when you don’t close sucks, but the seller might get hit with a $100k tax bill when you don’t close, on top of losing their own EMD. 

The tax exemption benefits are useless to most of us foreign buyers and a pure marketing tool used by the local developers.

If you are looking at this decision through the investment lens, what would you net on the investment that you put this money in to, after transaction costs and taxes? 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Even though I have the leases and can show a few months of payment I have to wait to do my taxes and show the rental income there until I can actually use that income.

We feel very confident in our underwriting, but given the jump that we made from SFH to an apartment building, we want to ensure we're not missing steps in our DD/inspection plan.Here's our current plan:1) Have a general inspector complete a Property Condition Assessment.2) Have specialists complete an evaluation of the roof, electrical, foundation, and heat source (2 steam boilers).3) Review financials, all leases, existing service contracts, rent roll, tax assessment, rental certificate, and 12 months of work orders.Here's what I'm not sure about:1) Are there DD items (specifically those that we would request from the seller) that are not captured within #3 above that we should be requesting?

And these groups often bring in experience working in the space prior to even launching company.  

Tens of thousands of people have tried to defend themselves in tax court for their REPS who have had full time jobs. 3 have successfully defended themselves. 3, thats it. 

The 1031 exchange is only for investment property to investment property.In your mom's case, she probably qualifies for the primary residence exemption and the first $250K of profit in her sale would be tax free.