It depends ;)We discussed it for each client that would have bonus depreciation, and generally it fell into a few different camps:1) We always extend anyways, so we don't care if we wait2) We normally file on time, and the amount of bonus depreciation difference is relatively immaterial, so let's not waste time and fees to extend and have to provide estimates to members - typically this was with less than a few hundred thousand of bonus3) We have too many investors, we aren't going to delay them, we'll file with the 80%4) The bonus depreciation is material enough to us that it is worth it to us to wait.

So sometimes if I have to spend a few hundred bucks to have the architect draw out the details to help the tradesman later down the road, I will. 2.) local municipalities fees.

Assuming you are keeping fairly apprised of debt options and interest rates, if the T12, cap rate is less than your interest rate, I would personally move on (exceptions apply if rents are several hundred behind market rates)These are three quick ones that shouldn't take more than 10, maybe 20 minutes to quickly determine and you don't even need a simple or complex excel model to complete.  

My concern here is that people can get pissed off and potentially damage the property when they are forced to move out. 2- a more passive approach to just suck it up and when its time to renew the lease then increase the rent by several hundreds of dollars so that they will leave on their own.

)  - When I say Cash Flow, I'm generally talking a few hundred dollars a month max.

It is also the cheapest beach property in the US for hundreds of miles.  

I am sure there are hundreds if not thousands of people like me across the country saying the same thing.

Issue is that if I refi at 175k value I will be way into the negative cashflow, like a couple hundred dollars per month negative.

Think: the renter pays all of your bills and gives you a few hundred dollars every month. 

I've read quite a bit about the Raleigh Durham area RE market blowing up because of all the corporations that continue plans to move/grow there; the eye catching announcement a while ago being Apple with their 10 year plan of adding a few hundred more employees each year.