Just be sure you fully understand the rules—self-dealing or personal use of the property can disqualify the tax benefits.

You may be able to get into a reasonably priced house hack in these markets and benefit from some nice appreciation.

These are professionals with additional training and a stricter code of ethics.

How many bedrooms does the property have and in what zip code is it located?

The upper level of society works in ways most of us will never understand...it sadly continues to be a back-and-forth thing of reaction...If our country and Chicago as well could take a proactive long term approach, our kid's kids would benefit in a way we couldn't image....

Best, Dina If you were to do more, what zoning code are you targeting: MR1, MR2, MR3, or MR4?

The investor must consider whether the potential property value increase or other benefits outweigh this loss. 

What are the key benefits of investing as an LP compared to direct ownership?

Have a conversation with a CPA to see if you will benefit from the cost segregation before getting it done.

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects.