As long as the property value is legitimately going down, or going up slower than it would otherwise, it seems like it would be a punishment to not be able to write off $13k per year, since there is a -$13k per year drag on the property value. 

That in itself ought to give a person reason for pause, because just because one set of laws says ok, that doesn't mean you can't be punished under another set of laws (think about the drug laws on the state and federal levels for example).There are two exemptions for which New Jersey allows a broker to perform an appraisal (BPO).

(The tenant was only about 3 months from the end of his lease.)I will say that I was feeling pretty smug about getting off so easy, so the rental gods decided to punish me for my hubris.

Do you think that the legal owner of the building should be punished forever because her brother is angry that he didn't get deeded the property instead of her? 

As an owner, I do understand it the owner statement is later than normal, but not to have some set of accounting in a month here in VA is illegal, and is punishable by board action.I have a new owner that came to me July 1, and has a 12 unit apartment building and said my property manager is not doing anything to help me or my building.  

Turned out that they just wanted to warn me about what I was doing but I got off lucky...This crime is punishable up to 5 years and a fine of 5000.

How about chairs at the closing table, the courthouse, the passenger seat (car, bus, train, cab, plane, boat, etc). and the chairs in study hall / school.There is also the electric chair in some states with capital punishment in force.

So, I'm inclined to one of two options that can take the punishment when it arrives. 

Not sure why no one else has mentioned it, but Wells Fargo also has federal limits that prevent them from increasing their balance sheet (as punishment for the scandals of the past couple years). 

Interest rates are punishing first time buyers and people that over paid in 21' or 22'.