The value created by your business can later be sold if you ever decide to transition to REI full time.Real estate investing is a capital intensive business and until you have significant cash on hand and a method to generate more cash, your real estate investing will be stalled.  

I ask because I don't know if there are any practices common or unique to the multi-family industry that I'm not aware of.Should depreciation expense be recorded monthly, or should it be recorded as an EOY adjustment?

Consequently, I'd imagine their offer will be risk-adjusted for that lack of information.

A word of caution, your estate plan must be flexible enough so that it can be adjusted for unforeseen events and changes in your life.

If not your coverage can adjust for that.

your adjusted cost basis will allocate gain attributed to depreciation.However, You will never recapture depreciation as long as you do not sell the property. 

Have you talked to a public adjuster?

I'm not saying I expect you to have identified every door knob; what I am saying is that just having your line items to review will allow me to make a quick adjustment to what I think the REAL rehab cost might be.  

A simple example is below.Destination (Frame what you want): I want to have $20,000 a month (adjust for inflation) in passive income per month to replace my income when I retire at 62.

Whether it’s getting your first flip down, wholesale deal or rental property, choose only one, see it through and then assess if you’d like to make any adjustments from there.