However, doing it yourself carries a high audit risk since you must defend your methodology without professional documentation.

Would love a sample log, ThanksDone! 

Quote from @Dana Yobst: Quote from @Julio Gonzalez: @Dana Yobst While it may seem like a simple concept, it's actually a very complex process that requires significant documentation as well as specific methodologies.

If your accountant is comfortable with the methodology and documentation, that's half the battle.For a small portfolio, I'd also suggest looking at newer options like room42.io.

Different firms use different methodologies, and some are more aggressive than others.

As far as the question regarding the valuation methodology for the practice... typically practices are valued based on a percent of previous years' collections, a multiple of EBITDA or a combo of both. 

Think of them as productized cost seg - same IRS-defensible methodology and audit support as the big firms, but delivered through software with standardized processes.For residential properties under $500k, this middle ground often makes the most sense.

DIY cost segregation can work, but the risk is that if the IRS questions it, you're on your own to defend the methodology.

The goal is simple: Create a 'Local Proxy' model where the owner has more visibility from London or Dubai than they would if they lived down the street.I’m currently documenting the RevPAR growth of a few sample units using this tech-first approach.

Definitely a methodology worth emulating in high-pressure markets.