Accelerated depreciation for rentals?

[Randy B.]

I have heard that depreciation can be accelerated on all but the land - which cannot be depreciated at all.  After some investigation, it appears that even the building itself can only be depreciated for 27.5 years and it's the fixtures and other items like parking areas, appliances, etc. that can be depreciated in shorter time periods.  Any feedback or clarification you can provide will be welcome!