@Robert HastingsAssuming taxpayer has a de minimis election in place, the expense is below de minimis threshold, and the consultant fees don't show up on the closing statement, which I'm sure they don't, taxpayer would expense the fees via Treasury Reg §1.263(a)-1(f)(3)(i).If not then the question becomes: is this investigatory cost "inherently facilitative" under Treasury Reg §1.263(a)-2(f)(2)(ii)? 

., partnership, S corporation, estate or trust) and that pass-through entity had capital gains this year that they did not elect to defer (i.e., invest in a QOF), then you have 180-days from the end of the pass-through entity's taxable year to invest your allocable share of the capital gain amount.

The much-maligned Scott Rowe worked in commissioned sales - he was, as I recall, an Executive Vice-President responsible for sales offices in seven states for the company which became Overstock.com after it jettisoned it's commissioned sales force.

This new election is going to effect me if Biden wins.

Investors seem to have dialed back their activity and I have seen a good amount elect to sell and take advantage of large appreciation profits. 

Its an issue.I participated in the Gozone tax structure last decade.. and just like what your talking about many went of half cocked and bought properties in the go zone but they did not qualify to take the deduction. and a gozone election was a almost guarantee that your file would be pulled for audit mine was.. my guy was in and out in 30 minutes..  

@Nick BrandonGet a tax pro on your team who is familiar with US taxation of non-resident aliens.The US tax code is particularly not friendly to non-resident aliens investing in the US when it comes to real estate or operating business income.Ask about the Canadian tax ramifications of investing in an LLC taxed as a disregarded entity or partnership, and whether a C-Corp election makes sense in light of the former question.

It's not really an expensing election, more of a book conformity election.DMSH involves a tax concept called "units of property" and not necessarily line items on an invoice.It also can't be used for inventoriable property. 

Thank god it was me......I won't go on and on about gentrification or huge growth markets or massive profit potential I just know that the Silicon Valley will replicate it's self with electic cars or desalination technology or who knows what in some other areas of our state and values will sky rocket again and again and again...... it's happened 6 times in my lifetime, boom and bust are part of the California real estate reality and I love it.  

@Mack Benson Interesting point about the unknown aspect of this upcoming winter, with both the overall market and impact of coronavirus and the election if any.