You must exclude the land value, typically allocated based on property tax assessments or an appraisal, as land is non-depreciable.

I spent time in the league and have since built my real estate portfolio and started a real estate agency and property management company servicing Indianapolis and its surrounding areas.

It can potentially be deductible as an ordinary or rental expense, an itemized deduction or simply non-deductible. 

At our firm (tax advisory) we are offering a service to help clients with this and we expect many tax/cpa/law firms will as well. 

If you hire a Property Manager they can sometimes help arrange lawn and snow removal service.  

Turns out the theory was right, but the decline has been even steeper.You might be able to predict whether a future market will be better or worse than the current one, but predicting how much worse or better is nearly impossible.And don't even get me started on how sponsors could be manipulating purchase cap rate, whether intentionally or unintentionally, by reporting pro-forma caps, non tax-adjusted NOI, and so on. 

The business plan to pay untenable returns is not untenable, it’s non-existent.

Shared living quarter rental, Military or Civil service rental.  

Have you reached out to any social service organizations that might be able to provide tenants to your property?

. $40k will not get you a non owner occupied San Diego property unless you find some unlikely alternate financing.