Jim you keep doing these post like this and NO ONE is going to buy rentals ever again LOLbut seriously I like that you balance out all the blue sky and bring reality to the equation.buying rentals is not a set it and forget investment no matter what.can be with really special A class to strong B class but no way with blue collar 800 to 1000 dollar tenants.. don't care where how or what.. they are all people. some are pigs some are clean and neat some in the middle and you can't tell with an application .I suspect if you took the time to go check out their automobile before you rented to them.. or did a sneak pop in on where they are living now before they move into yours you might catch the pigs before they move into your freshly rehabbed home.

Depreciation rules for automobiles improved significantly, however I don't think it would apply to you.

(B) A cause of action may not arise against an owner of real estate in a covered transaction for failure to disclose:(1) that the subject real estate is or was occupied by an individual who was infected with a virus or other disease which has been determined by medical evidence to be highly unlikely to be transmitted through his occupancy of a dwelling place; or(2) that the death of an occupant of a property has occurred or the manner of the death; or(3) public information from the sex offender registry as defined in Article 7, Title 23.

I suspect now its going great one of the centers was BRAND NEW CONSTRUCTION.. but the 600 homes that were suppose to go in next door got shelved. in a 08 style melt down NOTHING is immune some areas trundle through other areas its mass extinction. 

I think what's so interesting about your story, Andrew, is that this situation is completely normal around here and I'm entirely immune to finding this shocking, even though it should be!

Think buying last year’s model automobile and getting $10K off the sticker Price.

For example, when there is high demand for automobiles, even a poorly run automotive company can survive.

It's a very old property (late 1800s), so I will be wanting to set aside a good chunk of money in a reserve account for maintenance and Capex.I'm currently self-employed and write off everything under the sun (that's legal, of course) on Schedule C including all home office & related deductions, most of my automobile miles, cell phone, etc, etc, etc. 

Would you be immune to their vagaries?

So longer term, NYC will be valuable unless there is a major technological revolution and NYC goes the way of a Detroit which was the worlds automobile capital at one time.