Someone from the company should perform a site visit of the property to do a thorough analysis and ensure eligible components are identified accurately.Licensure and experience: The firm should have licensed tax specialists and engineers and this is recommended by the IRS.Experience with your specific type of property: Not every property is treated the same whether it be office buildings, self-storage, restaurants, gas stations, mobile home parks, residential properties, multi-family, or car washes.

My other question is can you please explain how to remove the building and depreciation reported under the individual tax return when transferring the property to be recorded under the partnership return?

I am trying to calculate a valuation - I'm breaking down building value, updates, equipment / inventory and working with seller currently on gathering numbers in regard to the business over the past 3 years to come up with a valuation.

We are 30 years old and just getting started on our adventure of building substantial side income over the next 10 years.

Hi guys, I want to share you of "Rental Yield" that I'm learning in Japan's property investment. It's a bit long but hopefully everyone reads this can guide me as a starter.When purchasing an investment property, it i...

Make sure that wasn't the site where all the construction workers changed their oil, or it is not the trash site for the neighborhood, make sure it is not in the flood zone, make sure the lot size meets the building/plat regulations, check for utility access, if they have lawsuits check for judgements and liens, and IRS liens.#7 Go kill it and make millions, maybe you found a gem.

You need to build a solid foundation if you want to last in this industry. 

It’s brand new!

@Sarah Kensinger don t forget investors can build and triple net lease their properties via a long term lease to management companies and enjoy all the benefits of passive investing.You are right .management companies who are responsible for taxes , insurance and maintenance, will make sure the property and furnishings( which they paid for) are well taken care of.

There should never be a choice between a property that cash flows and one that builds up equity from appreciation.