Your question has been debated between BP tax experts both privately and publicly, for example here: https://www.biggerpockets.com/forums/51/topics/819991-expens...And we ended up where we started: no consensus and no clarity.There have also been court decisions that support my interpretation, even though I personally find these court decisions debatable.

Your argument would suggest that if I bring home $2k/month in cash flow from a rental property in LA (where I live), that's a good deal, even though I probably had to put $2M cash into it initially.

I am on tap to raise 1mm well within my first year...I would have never even tried to do that without this group! 

If you reduce to $2,300 and are able to fill the property faster, yes, you are "losing" $100 per month, but even at that rate, it would take two whole years to equal the loss of the $2,400 vacancy month.

They are always leased here even for the corporate stations where they have a convenience store, a Popeyes or the like and a car wash.

.🔹 Insurance Challenges – Even when insurance pays, it rarely covers the actual cost to completely rebuild.

***EVEN IF YOU CASHFLOW IN REAL LIFE***Ready for the boatload of cherries on top?

Call the PM (I don’t think HABD will provide information on a property you don’t own - even if you can get them to answer the phone).

Even if you have a higher return in the stock market, you'd be doing it with a lower basis after tax and it will take a long while to recoup from that. 

(They claimed thousands for electrical using what appeared to be a fake electrical company, and they never had someone out to even check electrical beyond the general.)