**Inspections and Compliance:**You may need to conduct inspections to ensure the property meets current building codes.

@Johnny Jay - you can also add city code violations to your list.  

This strictly relates to asset protection.

Hi @Joseph BaenaHere is a tip for you as you get into RE investingThis website is a great reference point for figuring out what each area is like. https://www.areavibes.com/It gives you a total LIVABILITY score for each street and zip code.

CPA are looking for something specific on what codes/categories to be used.

It's heavily dependent on what the tax code allows and who is interpreting the tax code.

#1 Start with the Texas Property Code regarding leases.   

Depreciation is typically allocated according to the ownership percentages outlined in the partnership or syndication agreement, which are set in advance and follow certain rules under the tax code.However, some syndication structures can be designed with different classes of partners or special allocations, but these arrangements are subject to complex tax rules, such as the "substantial economic effect" rule under Section 704(b) of the Internal Revenue Code.

There's room for flexibility within the tax code depending on your strategy.Hire a tax pro to help you navigate this. 

These are professionals with additional training and a stricter code of ethics.