Age of buildings / long range plans

[Kenneth LaVoie]

Good day. With a year under my belt, I hope I can still post in the "just starting out" forum! Some days I feel like I've been doing it all my life, others feel like I'm all thumbs!

My question is about "long range" planning in regards to the age of buildings owned. I've read a few threads advising the purchase of newer units because a higher % is allocated tax wise toward the building (improvements) vs. land, so the depreciation deduction is greater. Also, and more importantly in my case, they warn that older buildings may need serious capital expenditures in the future JUST when you don't want to be hemmorhaging cash, such as the first few years of retirement.

In my area (Waterville, Maine), we have mostly buildings built between 1890 and 1940 for multi's. Now shouldn't I be ok as long as they are structurally sound, and heating systems are up to date?

Everything is cash flowing pretty well, but I want to make sure my long term strategy will work. (i.e. buy, improve, hold and rent forever and ever, amen)