My husband and I have invested heavily into an apartment building.  We will probably have a cost segregation study done early this year once we get our ducks in a row.  My husband is a general contractor and I have worked in interior design for the past thirteen years. 

Although he has referred jobs to me, this is the first time we have ever worked closely on a project.  Not only are we working closely, but also the project is personal because it is ours.  I am excited because the building has good bones and is in a respectable area.  A Starbucks and grocery store are just within minutes down the street.  Hiking and biking trails are literally steps away.  Shopping boutiques and a good mall are fifteen minutes by car.  I believe with the investment in a great looking exterior and interior we can create a highly sought after location.  We are even considering turning the apartments into individual condos and selling them piece by piece. 

Right now, however, I need to manage the finances as well as the interior/exterior.  I will have an expert power up his net present value calculator and determine what fixed assets we can mark down for accelerated depreciation.  The sooner I get quarterly taxes in line the better.  Why send the money to the IRS when we want to use our cash for the upgrades and improvements?

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