KREIA also has a Saturday education component that's 99$ for members or 199$ for non members.

From the facts you have provided, it appears that your client has $22K in taxable boot.It is too late to salvage this situation, but there is still a tax pitfall ahead for your client in calculating the two components of the depreciation basis for the replacement property.  

So "component" depreciation really is no longer an option.

Are you going after Class B or C that is fully stabilized or are you going after B or C that is distressed with a value add component??

@Philip L.You'd be surprised at how aware some tenants are to types of windows and other components related to efficiency.

A well-planned exit strategy is a key component of successful real estate investing.

You need to be able to replace the different components of the property that depreciate over time.

You'll also want to allow for a higher than normal capital expenditure reserve due to the older building components (unless you do major rehab up front).

I had never thought about one of those  If you've never thought about an exit strategy, I would advise you to halt buying anything until you consider this component of investing.

Since it is their vision going into the house, will the architect and designer oversee all of the components involved to ensure proper completion?