For egress requirements in a basement where I might add egress windows, I want to understand a few things:
1. If a basement already has an external entrance + stairs to the main unit, that should be sufficient right?...

Your goal of attaining appreciation as long as you buy in the right area.If you'd like to talk more about this or just have general questions send me a message!

Ok thanks for the clarification.

Thank you for the clarification @Alex Fenske. 

Forgive me but I’m confused, let me give a little more info just for clarification.

If it looks like it was unintentional, I'll ask for clarification but multiple skipped questions is a big red flag to me. 

Kislay,I have so many tangled tax questions, but one quick clarification.... many advisors say to have a Wyoming LLC as your holding company own your Fix & Flip LLC (for anonymity) so your name is not on state filing.

@Jeff B. thank you for the clarification.

But then it wouldn’t be a disregarded entity… Adding to my confusion is Kentucky’s Community Property Trust Act of 2020.Tried calling the IRS for clarification and talked with several accountants who said they didn’t know.

I'd be happy to provide some clarification on both depreciation and the 1031 exchange strategy:Depreciation Example:Depreciation is the process of allocating the cost of an income-producing asset over time, even though the property may appreciate in value.