Purchase price was $102k and tax value is at $106k.

. - Looked at the property tax.

If they own it and are going to put it in that bank then offer to borrow the money from them and pay on a monthly basis to they get more money than they would in the bank and then avoid taxes too

The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

How exactly do you file taxes when you have a 9-5 but also generate income from self employment?

There are lower priced properties that will still rent at a nice profit market when including mortgage, taxes, other expenses.

So essentially you can legally (consult your own tax pro!)

Any other tax strategist referral?

If so, then a spreadsheet could probably do.Also do you do your own taxes or have a CPA?

At this point they have no plans to resolve this issue other than increase taxes and replace wiring.