With the Internet playing the disruptive technology, I think this section of NC code is mostly obsolete.

' Insert your code here.

The child's basis in the property would be the same as the parents basis.However, one of the biggest tax breaks in the code, at least in the top 3 favorable tax breaks is the "stepped up basis."

My firm is in the testing phase of a new SAAS platform for investors in residential, land and commercial properties.The software scours properties on the market and off the market by zip code and based on specific criteria it will alert users with the address, mortgage info and full contact info including email addresses for onsite and absentee owners.Would anyone use this?

@James Maher will you please cite your reference or IRS code where it states cost segregation is required?

The following code supports Susan's and my remarks:§ 1.263(a)-1(f)(1)(i) Except as otherwise provided in paragraph (f)(2) of this section, a taxpayer electing to apply the de minimis safe harbor under this paragraph (f) may not capitalize under § 1.263(a)-2(d)(1) or § 1.263(a)-3(d) any amount paid in the taxable year for the acquisition or production of a unit of tangible property nor treat as a material or supply under § 1.162-3(a) any amount paid in the taxable year for tangible property if the amount specified under this paragraph (f)(1) meets the requirements of paragraph (f)(1)(i) or (f)(1)(ii) of this section.

He turned around and sold the home to the city for $10,000 through a blight elimination program at closing he gave me a check for $4,000 as there were some code violation liens on the home.The second deal was a 25,000 sq ft commercial building.  

Because the area has 2 or 3 distinctly different areas, you'll need to be a little more specific than zip code.

There is a dashboard tab to see the most relevant information about each unit from a single section, along with color-coded current rental status with yearly summaries. 

The city of Milwaukee has actully code on how you have to contain some breeds like rottweilers and pitt bulls that effect landlords, because they require certain infrastructure like a completley contained "cage" an agressive dog cannot jump out or dig under the fence.