., there was a technical error, and the section of the tax code describing 15-year property (Section 168(e)(3)(E)) was in fact not amended to include qualified improvement property.So for now, strictly-speaking, in 2018, qualified improvement property is regular old 39-year property that is not eligible for bonus depreciation.We do expect that a technical correction to the law will be made, but for now the IRS has actually stated that it cannot guarantee that absent legislative correction it will accept the legislatively intended change in recovery period and bonus eligibility.Anyway, this is neither here nor there since you have stated you are a landlord of residential rental property rather than non-residential real estate.And this does not affect the application of 100% bonus depreciation to both qualifying new and used property place in service after 9/27/17 and before 1/1/23 that @Yonah Weiss pointed out.

The ore adjustments an appraiser makes, the more likely error will creep in.Maybe the lending market is smaller in Calhoun County, so appraisers generally appraise on the high side to be sure home purchases will be approved for lending.Maybe your experiences are not representative of the market as a whole, but idiosyncratic.Maybe the market is experiencing a slight down-turn, so that recent sales of comparable properties are too high.Have you asked a local appraiser about this phenomenon?

You might spend that, or more, just getting your license, keeping your errors & omissions insurance, paying office costs, etc. 

Sorry for rookie thinking since I am very new to real estate and does not have much experience.

I know this is a rookie question but let's face it , I'm a rookie.

They are taking full advantage of that error apparently. 

I always use a discount factor of  5%-10% from advertised rents for analyzing the deal to leave room for error/market changes.good luck

Patience also forces you to be careful and not make errors that can cost you thousands.  

It appears that he has been making mistakes and is using "change orders" to get us to pay for his errors.

Hi dear community,I'm a rookie out-of-state investor in a middle of a dilemma with myself, I've got my first proprety in port st lucie refinanced and was able to pull out 50k for the next move.