While it may seem like a simple concept, cost segregation studies are actually a very complex process that requires significant documentation as well as specific methodologies.

Am I doing something wrong in my underwriting methodology? 

A competent CPA can help select the depreciation methodology that best suits your needs.FWIW, REPS requirement is 750 hours

Just because a real estate methodology, specialization, property type, etc. can be profitable doesn't mean it's right for you.I did meet two people, but only two people in my 45 years in real estate who were "right" for being a "bottom of the barrel housing provider" (slumlord).  

This doe t mean that the poster is someone in cohorts or a “supporter” of the person, business or methodology you claim defrauded you.Based on my posts in the other thread on the same topic, I have been receiving emails providing additional information purported to show proof of fraud, though I have NO WAY of verifying it.  

They have addressed the issue of depreciation of components, but not the actual methodology of the study.

I will never forgive you for this Michael, I looked thru 523 and it seems your methodology is applicable if your property, at one time, is used as a rental and primary (like you leased on some land on you property, or a unit while living there).

Create a methodology which uses this technique or strategy in 10 X the number of situations where it’s appropriate, and only report the few successes, never acknowledging the failures or the risks3.

NOI Underwriting Methodology: NRI and EGI, real estate taxes, operating expense underwriting rules of thumb, replacement reserves, appraiser’s impact on lender underwriting, expense comps, etc.10. 

.- Phase 2 (April 1, 2022)Applied to all remaining existing policies, transitioning them to the Risk Rating 2.0 methodology upon renewal.The new system replaced the decades-old approach to calculating flood insurance premiums, aiming to provide fairer and more accurate rates based on individual property risk.Before Risk Rating 2.0, flood insurance premiums were mainly based on whether a property was inside or outside a designated flood zone and its elevation on a map.