Assets identified in this study include:Appliances: Oven/range, dishwasher, refrigerator, washer/dryer, microwaveElectrical and communication systems: TV connections and dedicated equipment outletsCabinetry and CountertopsDecorative light fixtures: Sconces, pendant fixtures, chandeliersInterior Finishes: Crown molding, wood panel wall covering, window treatments8.20% of the total depreciable basis was classified as 15-year class life.

Your fear of the system is unjustified and would be elevated if you actually understood the law and how it is applied. 

The core market (hole of the donut) is booming and lots of young people moving to the city center and new apartments, condos, restaurants, amenities etc.Alot of the sun-belt is experiencing alot of net-migration...versus at least some cities in the Northeast not so much. 

School system?

I like how you point out the "technical" elements at play by mentioning the demand for MBS versus treasuries. 

We also manage 2 other companies together that require accounting systems. 

Make sure to inspect all the major systems thoroughly (HVAC, plumbing, foundations, roof, electrical) and make sure you know what they look like today.

I am unsure what case law there may be regarding STRs with regards to "public accommodations" versus a typical rental arrangement.

From the liability/asset protection side always use licensed and insured vendors, build out a robust contract management system, make sure the owner is always listed as additional insured.

This way you can sell land anytime versus if it is under a farm lease or if the farmer paid the cost to seed.