Now that understand that part, now I need to figure out 1250 recapture rules, for an add back of previously deducted depreciation.I cant figure out how to find, on my tax returns, the total depreciation over the years up to 2023 on each property.

Hey @Jay Levy, an easy option is to use keycheck to run your background and credit checks.

Have you talked to your insurance company about rates if you increase the deductible or shopped around for insurance? 

Next year with my pension only I am in the 22% tax bracket but also will have more passive deductions with 2 properties, REP status and cost segregation on both.  

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

I finally found one at 20% higher than I was paying, but with a higher deductible and greatly reduced coverages (loss of rent from one year to 3 months, liability from $500K to $300K, everything else cut or excluded).Personal opinion (I work in insurance) and those of pretty much everyone I've spoken to in the industry feel we are at least a few years away from anything softening. 

Currently, the change is up $3500/yr and laying a 10k deductible on each building.

Then because it is next to and attached to a MHP deduct 15% +/- off the value of the home's appraised value.  15% may be too conservative as I have heard some say 25% or more.The Park- Two ways to play this. 

Step 1 is to get an estimate of the amount of tax deductions that may be available through Cost Seg.

Any additional tips or corrections would be greatly appreciated.Example:If the PM sends an owner statement showing:Gross Rent Collected: $3,000Property Management Fee: $300Miscellaneous Expenses: $200Net Rent (Amount Deposited): $2,500In QBO, I would:Record an income entry of $2,500 for net rent.Separately, record any additional expenses paid directly, such as:Mortgage: $1,200Insurance: $100Property Taxes: $150Summary:Property Accounting: Handled by the PM company and detailed in the monthly owner statements.Corporate Accounting: Recorded in QBO, focusing on net rent income (after PM deductions) and any additional expenses incurred.Please let me know if this approach is correct and if you have any suggestions or adjustments to ensure compliance and accuracy in my accounting processes.Thanks for your guidance!