@Marlie EvansMy firm’s managing partner works hand in hand with the IRS’ head of Depreciation if you would like to know the guidelines on the matter.

See the 2020 aerial view below.Very little undeveloped private land is left in the Las Vegas Valley, and desirable areas cost more than $1 million per acre.

I'm with a national commercial brokerage firm with a lot of experience with Postal leases. 

From what I understand a very good deal in a great location could multiply your returns compared to a less desirable location... just my opinion... 

You could also reach out to a local, reputable, property management firm to see if they offer a la carte services for lease preparation, application processing, move in inspection, etc, if you are planning to self-manage but need some help with the more formal items.

Rents will go up and your biggest mistake was to buy a nice house in a desirable neighborhood.The real threat is buying in the hood, leveraged up to the gills, maybe even with hard money, tenants are bleeding you dry, while you are writing checks to attorneys and contractors.Milwaukee is getting a lot of attention lately: cash flow is still better than most places and appreciation is stable at 5-8%.

If either of these numbers is inaccurate, there’s the potential to operate on less-than-desirable margins.

Once mortgage is denied seller is left high and dry, 30 days and sometimes 6 months into the contract (sometimes even longer, in cases where seller is a builder who built the whole $700K mansion for you, in firm belief that your bank will come through and finance the entire purchase at the end).

This scarcity has driven residential land prices in desirable areas to $1M per acre or more.

The original author of the Cost Segregation Studies guidelines in 2004 and its recent update in 2022 is the managing partner for my firm.