Regarding depreciation, I wanted to confirm if bonus depreciation (100% allowable for 2022) is only determined by completing a cost segregation analysis or is there a way to claim bonus depreciation on a property without conducting a formal cost segregation?

@Adrian SmudeYou have good intentions but as you’ve read from many others it’s not recommended.I do provide Xmas bonuses to my close team members, Handyman, Property Manager, Realtor and even my Mortgage broker if I feel they have gone above and beyond with their services I do it sometimes not always depending on how profitable my year was.I have done Lease renewal bonuses for my tenants when renewing a lease.

The house does have a finished basement with a "bonus room" that is not legally a bedroom.

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories.The Cost Segregation Study was performed on the Asset Depreciation Range (ADR) and is based on a 40% tax bracket for State and Federal Taxes.

Anyway, one of the reasons I started in appraising, multiple decades ago, is so I understood the valuation of potential investments and a bonus is knowing how the process works from the inside.

CA is expensive, we all know that, but what is your goal because wealth is built in appreciation, cash flow is just a bonus.

Not to mention a major bonus of getting out of where-ever they're coming from.

Bonus - I love networking in Austin!

Not my sandbox at all, but interesting.I proposed a multifamily buy with a 12 month refi out +$60K bonus + interest on $400k but they just yawned.Wealth management firms may be a potential private money source for investors that play with large flips or other fast turns. 

As a bonus it's also only 15-20 minutes from the entertainment district in Arlington.