Thanks to the Cost Segregation Study, the property investors were able to reclassify the property components and accelerate their depreciation for a total of $356,000 in the first year.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.

The house has outstanding taxes (the $7K) with a face value of $100.6K.

My CPA advised me to split the generic costs such as property tax and water bills equally between both units, which seems reasonable.

(yes, I will check with my tax professional also)

That way increases in costs of insurance, property taxes, etc are passed onto the tenant. 

There's closing costs, appraisal fee, and points to consider. 

So don't pay their assignment fee through them, they'll get paid once it closes.

I'm ok with month to month, but I also need to raise rent to current market value, add in late fees, set up auto pay, etc. 

When analyzing rental rates, vacancy rates, property taxes, and other financial metrics, it's important to consider various factors.

While we do not see income from these properties and are not managing them we do have a significant amount of depreciation and losses that have been assigned to us and carried over from the past couple years.I am invested in some growth/equity focused projects already and am specifically looking in reliable income focused strategies that are tax efficient provided the losses I have from my family.