Who knows that you Jon Krauser, living at 123 Main Street became motivated?

@Andrew Montgomery - If you're goal is get to 10 properties in 3 years you'll need to figure out how to "recycle" your money that you invest in real estate, mainly by either BRRRRing single families or doing something similar with multifamily.

So there is no single projected return, no single actual return, no single experience (and it instead is a huge variety).I feel one of the main advantages of passive investments (via syndication/crowdfunding) is that I can hire a manager who has years more experience than I can ever hope to obtain myself.

An example would be a realtor brokerage that buys a mixed-use house in a downtown area, uses the main area for the brokerage office, and subleases/rents any remaining space to other businesses/tenants.

The main worry being that a good deal made today may not be a good deal tomorrow. 

My main question is regarding depreciation.  

The main point is do not step over dollars to save pennies.

Mainly theories and gospel preachings.

I reviewed your analysis, and it looks like the main issue is with the points calculation.

If your main focus is cash flow, Cleveland is worth checking as well and look for areas in the west side.