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Monthly cash flow after the refi, the numbers a DSCR lender checks, and the year-1 tax savings from cost segregation.
Property tax is reassessed to the purchase price when the new owners buy (Prop 13): 1% base plus the parcel's local bond rate and fixed direct assessments from the current tax bill. Management is charged on collected rent; the leasing fee is a share of one month's rent per new tenant, spread over an average 2-year tenancy. Set management to 0% if you'll self-manage.
DSCR lenders usually want rent ÷ PITIA of at least 1.15–1.25, with the best pricing at 55% LTV or less.
Land share comes from the assessor split or an appraisal. Cost seg studies usually move 20–35% of the building into 5-, 7- and 15-year property. Without real estate professional status, the loss is passive and is usually suspended rather than offsetting W-2 or business income. California doesn't follow federal bonus depreciation, so this shows federal savings only.
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