All Forum Posts by: Diane Davis

Thank you for posting this!  I had not seen this and it was difficult to find on their website.  I share your concern of how they treat their hosts.  Thank you very much for the timely information.  Do you know if VRBO, or Bookings have similar policies? 

Kind Regards,

Diane

Thank you for everyone's input.  To enhance the learning curve here, are some more details:

We purchased the property for $895,000 the end of May.  The cost of the fully engineered and accounted segregation study is just under $6,000.  In the event of an audit, the study is fully defended at no additional cost.  The company has completed over 10,000 studies.  The average first year tax benefit is estimated to be just over $222,000 and the average five year tax benefit is estimated to be just under $300,000.  My husband is an executive at a Fortune 200 company and our reason for the study is to offset his W-2 taxes.

Any additional pros or cons to doing the study?

Thank you for the recommendation.  Could it be a sign that I need a new CPA if they were not able to offer advise in this regard? This is my first rental and commercial property, and my first year of operation. How specific is a CPAs knowledge? Do I need someone who knows multi family investing specifically? Hope to continue to add to my portfolio.  

Looking for advise on how to select a company to perform a cost segregation analysis on a 6 unit apartment that I purchased in May of this year.  Property is located in Dunedin, FL in the Tampa/St. Pete area.  One local recommendation led to a company with an appraisal background and another local recommendation led to an a company that used a professional engineer and a CPA to produce a report.

Any tips on qualifications to look for in a company, and do they have to be a member of the American Society of Cost Segregation Professionals. 

Thanks,

Diane Davis