It sounds like it would be a great candidate for a 1031 exchange.The requirement is not that you had rented it out but you held it for investment purposes.Have a conversation with an accountant to determine what your gain / tax will be upon sale.

I understand your template follows the IRS ATGs, which sounds helpful.

Quote from @Brady Ascheman: Hi everyone, when meeting with my CPA recently I was instructed by here that if you obtain "Real Estate Professional Status" as per the IRS rules then your rental income become "active" instead of "passive" income in the eyes of the IRS.

If you pay your estimated taxes late, even if you end up overpaying for the year, the IRS or FTB can still charge you a small interest-based penalty.

My accountant (CPA) said the IRS is cracking down on people taking trips and writing off some of the expenses.

Here are typical costs (for Las Vegas) and useful lives:Water heater age is easy to determine, since the manufacture date is stamped on the unit.

The IRS actually has a Tax Withholding Estimator that’s really useful:  https://www.irs.gov/individuals/tax-withholding-estimator  It takes into account your income, dependents, deductions, and other variables to help you dial in the right amount of withholding — whether you want to avoid a surprise tax bill or maximize your take-home pay throughout the year. 

The IRS generally makes it hard to show that rental activity counts as active involvement, since they see most of it as “not intensive.”

FYI, a Cost Segregation Study will "not" increase your chances of an IRS audit.

Here is a short article about this: http://www.nolo.com/legal-encyclopedia/can-you-ded...And the link to the IRS publications regarding this issue: https://www.irs.gov/publications/p550/ch03.html#en...