It is also a huge benefit for your personal brand (let's be honest, we live in a judgemental society).  

Is the Seller looking to sell and head to Lake Havasu in his RV next month or is he willing stick around for an extended period of time to help you retain a higher percentage of your clients? 

Is the property in a growing area with renters fighting to live there?

The property is nice enough and in a good enough location that I would be comfortable living there for that amount of time, but I am ultimately looking to make money on this deal. 

I live right between Tomball and Spring, TX.

@Jennifer TaylorSmall world, I live in Greenville SC also and invest in Multifamily properties via syndication.We do cost segregation on all our deals and typically we find an investor gets depreciation equal to 35% to 40% of the amount invested.So $300,000 invested might generate $100,000 to $120,000 in depreciation.The big question is this depreciation loss is considered a passive loss and generally can only be used to offset passive income.You need to find out whether withdrawal from an IRA is considered passive income.You need to find out can the depreciation be used to offset the income from early withdrawal?

It's also recommended to talk to lenders about any potential impacts on financing or loan terms when forming an LLC.A revocable living trust can provide benefits for estate planning and asset management, but it may not offer the same level of liability protection.

So they ask to extend at the last minute.

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories.

I've seen subs (not in privity) claim that performing minor work, say punch out items requested by a new purchaser such as yourself, extends out the time limit.