So, If I understand correctly, if I have a property where rental income is say $10K, but expenses are $12k, that $2K is carried forward indefinitely until.... what?

I am told the vacant/idle period doesn’t go on indefinitely and anything over a year is pushing it.

So it should theoretically carry forward indefinitely until the financial benefit has been used up. 

So, they do have actual rights an owner has but only those to possess and use and for a period of time as opposed to an indefinite period.So, if you prefer to think of the rental as "goods" then you have SOLD THEM a lease on the property.

Here's exactly what I'd do in your shoes: 1) Build a solid team -- Agent, PM, Contractor, Handyman, Lender (all local pros)2) Invest in a Turnkey Duplex or SFR just to get your foot in the door and learn the area3) Then, with money left over Invest in a BRRRR and recycle that money indefinitely as assets appreciate / force appreciate4) Acquire a large fleet of Indianapolis rentals as the city continues to expand. 

There was an article in Westward in Oct or Nov of '14 regarding the issue, and that tiny homes under construction are being fined and held up indefinitely.  

From my understanding at this point that should be safe indefinitely.

I get that monthly cash flow on the investment property isn’t the only factor and that real estate always goes up and now a days - going forward will probably just go up in a vertical line indefinitely, but if I don’t intend to sell the property due to tax purposes I wouldn’t be capturing the price appreciation, it would be the cash flow. idk, I’m probably overthinking this lol.

This way the tax stays deferred indefinitely. 

If he simply sells and moves into the right passive opportunities he can use the 1031 exchange and indefinitely defer all of the tax and depreciation recapture.