There is also a line (Line 18) for depreciation expense or depletion. 

Anyway, that means you would start depleting your account at say age 75, not 60.Thanks for the upvote. 

Once you choose your depreciation schedule, you cannot modify it mid stream, you are on that path until you either sell the property or deplete the depreciation life of that component. 

Therefore, for taxable years beginning after December 31, 2021, and before January 1, 2024, ATI is computed with regard to deductions allowable for depreciation, amortization, or depletion (i.e., earnings before interest and taxes (EBIT)).

Costs for rentals can quickly deplete any CF you have and the less dollars per door, the more risk you assume.

Yes it brings in cash right up front, but after that cash is depleted, there is no money for future upgrades.

Also look into lenders who allow asset depletion to qualify. 

We could pay off my student loan in full right now, but it would deplete much of what we have saved for investing.

@Michael MorenoAccording to your fact set you are running a deficit right now burning cash/depleting your reserves even before making the additional principal payment.  

Even if I’m upside down a total of $1,000 per month on PITIA + CAPEX that gives me 10 years to run before my reserves are depleted.