For example the unit owner occupied is 2/3 rd of the total square footage while the rented portion could be 1/3 rd of the total square footage.In such situations would it make more sense to depreciate by square footage to optimize tax?

I'm not looking to evade paying my taxes, just looking for strategies to optimize my spending and profit within the eyes of the IRS.

I had basically a menu that people could choose from to do a variety of repairs.

If the market turns before year 3, it could limit your options and force a decision which is less than optimal. 

I would connect with a seasoned investor like Tim who can walk you through strategy as an investor while considering your optimal financing strategy.

And how can I change my lens/optimize my model to increase the Net?

I guess it's like apples risk vs. oranges risk: recently-built apartment complexes are apples and involve risk (the construction defects, the stress Class A experiences during an economic downturn, etc.) and value-add/renovation type business plans involve oranges risk: you won't probably see any construction defects, but you have more vulnerability that the renovation plan + improved operations plan + repositioning will not work as optimally as originally hoped. 

I think your examples in the other replies, lower in this thread, speak to motive/intention....yours is pure and true to the pursuit of knowledge, and the one i'm complaining about is not...and their conduct/style/motive/intention creates a less than optimal environment for me to maximize the value from my time spent on BP....IMHO  

I’d say talk with a few different mortgage brokers to get different ideas of how you can optimize your buying power to work for you!

With the right resources, getting started with business credit, rising to the top, and optimizing performance is as consistent as clockwork.