Hi @Carly BaumI cannot speak on the Colorado Springs or Reno/Sparks so anything I say cannot really be juxtaposed against those two areas and as a Realtor here, I can say that Phoenix has endured a very strong recovery from the housing crash.

As this is rare situation, there is not much guidance and I had to directly interpret the IRC code.Based on my understanding, I dont think your recovery period resumes. 

Florida is probably third in my opinion, but not until 2014 because of judicial foreclosure stalling the recovery. 

I have PTSD from combat but I'm built like an athlete so everywhere I go someone calls bs. 

Bonus depreciation is available  for property with a recovery period of 20 years or less, which could be identified by a cost segregation study.

@Thomas Sullivan Well, at least your note provides for recovery of attorneys fees and costs.

As I push through the recovery stage I want to keep the property safe so I've put security cameras into my numbers.But, what about security systems in the apartments.Hypothetically a safer unit attracts a higher level tenant, or I completely crossed into the funny farm?

Thus, the lender is not entitled to insurance proceeds payable for prepurchase damage to the property, prepurchase net rent proceeds, or damages for waste, because the lender’s only interest in the property, the repayment of its debt, has been satisfied, and any further payment would result in a double recovery.

If they do end up leaving without paying, you have several options:  1) you can deduct from their security deposit any money you're owed for past due rent; 2) you can sue them in small claims court (if it's worth it based on the amount of money they leave owing and you think you can collect); or 3) you can report the debt they leave owing to a debt reporting service like Rent Recovery Service or AOA Debt Reporting Service (for a small fee they'll try to collect it for you and they'll report the debt on the tenant's credit report and you don't even need a court judgment to do this).Good luck and hope it works out for you.

He's a coach at the university and can put 5 scholarship athletes in the rental for $2700/student/semester x5 = $27000now we cash flow arounnd $800/ monthProblem is he doesn't have cash for %50 of the down payment.