Make sure the deposits are transferred and not deducted from purchase price, otherwise you will need to come out of pocket when tenants move out.You should also make tenants and landlord sign an estoppel agreement, which outlines important items and agreed to, so the tenant cannot claim to have a huge deposit later or claim that the prior owner gave him ownership of the shed in the backyard.

Asking for a mentor can put unrealistic expectations on folks. 

I often use "ADA" as a blanket term, but that can be misleading.I've made my Unit C (part of a three-unit property) more accessible, but it's not ADA compliant, nor would I claim that, nor am I forced to since I'm under 4 units.

My wife and I specifically searched for a fee only financial planner who claimed to know how to work with real estate. 

So I need to file the Statement of Claim, and have questions about the form and process.Do I complete the form, have it served to the tenant by personal service, then file it with the court?  

Yep, it's basically a dummy company, customer service is a black hole, and when I ask for someone to verify my claim that Stephanie told me I could get out of my contract due to lack of performance, they can't even tell me if she's still in charge. 

Are there any strategies I could use to still claim the depreciation, or any way that the transaction could be structured such that I don't lose on that tax benefit?

I keep them on my list especially if I think their price is unrealistic.

Michael's book seems to be a bit unrealistic with the deals he uses as examples.I have $200k of capital now, $1M of capital in June '25 and another $1M available when I get some units under my belt. 

. - I believe (and will bet anyone who cares to oppose me) there are less than 1,000 people in this country who can claim $100K or more in assignment feels or similar wholesaling income for at least 3 years in a row.