Since then, I have spent $25k in renovations.

I have a steady salaried income and have spent a lot of time driving for dollars and running numbers in the Mooresville, NC and Charlotte, NC market ( any rental owners in the area, realtors, property management please feel free to message...  

If I check the box I have all the drop downs I would use except for the amortization years.

During this time, I've spent time listening to the BP podcasts, reading books (Rich Dad is phenomenal), and we've been networking some too!

However, the information for Box 20, code V lists a high dollar amount and that is what I've been told is the line for UBTI.  

Right now I spend about an hour each month on banking, for the past 4 months I’ve spent about 3 hours apiece on a flipper that’s almost done, and now that it’s summer and the grass is growing I’ll have about 4 hours a month of landscaping for 2 properties.

-Time spent networking with other investors is time WELL invested. 

I've been careful to avoid that issue, and spent the last few months trying to learn as much as I can.

I guess when the GP and the middlemen involved in cost segregation studies proudly state its benefits, they are talking about the benefit to themselves rather than the LP.If your losses are not much then no need to file the state return as the money spent in filing the state return is way more than the money saved by capturing the losses.Did your cpa mention how the passive carry over losses are accepted by the state when they were not already recorded by filing a state return in the prior years?

Every minute spent getting better at one of these professions comes at the expense of the other.I WISH I had listened to those who tried to tell me this 20+ years ago...