Depreciation is typically allocated according to the ownership percentages outlined in the partnership or syndication agreement, which are set in advance and follow certain rules under the tax code.However, some syndication structures can be designed with different classes of partners or special allocations, but these arrangements are subject to complex tax rules, such as the "substantial economic effect" rule under Section 704(b) of the Internal Revenue Code.

There's room for flexibility within the tax code depending on your strategy.Hire a tax pro to help you navigate this. 

These are professionals with additional training and a stricter code of ethics.

Study and learn how the tax code works and where you might be able to optimize and save.2.

First thing I would do is check the Memphis regs around STRs - https://library.municode.com/tn/memphis/codes/code_of_ordina...That will help you drill down on the area that it would work best.

Study and learn how the tax code works and where you might be able to optimize and save.2.

I started doing research on different zip codes in which to use the BRRRR strategy.

I am looking to buy my second rental (first in Huntsville) in the same zip code.

Landlord-tenant/eviction issues, lawsuits to set aside the tax sale, code compliance, etc.

Also, depending on the area, codes and historic have been a big pain especially since the new city administration has put a much higher % inspection requirements for "cosmetic rehabs".I've been able to turn majority of the units in the last 3 years.