., I definitely agree with the accounting piece, what are you thought on the legalities side of this.

This comes with some other ramifications around legal liability and the ability to get a mortgage on the property.The other way to fix this is to create an LLC now, and both you and your MIL contribute the current properties into the LLC, then the LLC 1031 exchanges the old properties into the new property.

Yes, I plan on going to Orlando early next year a few times to look for properties. 

How do you work on the terms with your preferred realtor?

I would appreciate your recommendations based on these criteria.

Do you focus on building relationships with a few reliable lenders, or do you keep your list broad?

There is a great group of members on here to connect with.

@Hai LocTruthfully I think Hamilton is great, however I’d need to use one unit for my mother... who isn’t too keen on Hamilton.

I live on long island and run a landscape business here right now. 

& different parts of the asset can be depreciated on different schedules.To find out the useful lifespan of each component, you do a cost segregation study to analyze all of the parts.The raw land can't be depreciated so you start by giving that a value first.But other items can be depreciated on a quicker timeline.A roof, road, sidewalk, fencing, walls, gates, doors, latches, flooring, air conditioners, pavers, curbing, landscaping, etc.The IRS has a depreciation schedule for each type.Some parts are 5 yrs.