This means that when you sell the property, your adjusted tax basis is lower, which increases the capital gain you must recognize.Additionally, any accelerated depreciation taken is subject to depreciation recapture at a higher tax rate (up to 25% for real estate assets) rather than being taxed as long-term capital gains.So, while cost segregation provides significant upfront tax savings, it also increases your capital gains tax liability upon sale unless you use a 1031 exchange or other tax-deferral strategies.You can find your current tax basis by reviewing your depreciation schedule (Form 4562) and prior years’ tax returns, specifically looking at your adjusted basis on Form 4797 (for sales of business property) or Schedule D (for capital gains and losses).Your CPA should be consulted prior to making any decisions. 

This could lead to higher tax bills for businesses and renters, who do not benefit from the homestead exemption [5].Local Jurisdiction AutonomyThe amendment allows counties, consolidated governments, municipalities, or local school systems to opt out of the exemption if they choose to do so.

Picking a focus early on will help keep you from feeling scattered.Networking is huge in this business.

Hi Matthew, Congratulations for being in this business for 35 years. 

Quote from @John Lasher: I've heard from so many investors that they have put a pause on their flipping business.

Property management can definitely make or break things, so it’s inspiring to see how you’re prioritizing that.Looking forward to learning more from your journey and sharing ideas as we both navigate the real estate world!

The challenge was separating business from personal relationship.

These associations often provide networking opportunities, legal guidance, and best practices to enhance your rental business.

Have any idea about Gift tax in NY?

We'll likely have to look for alternatives to our primary house since we won't be moving much anymore, but I like the idea of small multis and getting a lending who fully understands the VA is certainly good insight.Thanks,Fritz