The icing on top of these joys - to the extent the property is depreciable in the hands of the recipient - it is an ORDINARY gain, and not a capital gain. 

Very informative and gives an interesting look at investors' experience in this market.But courtesy first, my husband and I are "out"-out-of-state investors, looking for deals in NE and East of Downtown.For the past 3 months, we've been researching and submitting offers on properties to match the COMPS and rejected.Our budget is about $100K, stretching it to 120K for the right property + rehab.The problem is that we had to offer low-balls for the numbers to work, and then get rejected.It seems it's a narrow fit to BRRR, hence the cashflow is "on edge" here.Doesn't appreciation suppose to be the icing on the top?

Some apartments might be burning hot and others cold as ice.  

Also, for the same reason there are 20 different restaurants that fry chicken differently, or places to get ice cream, or cars to drive, or churches to attend. 

If they push back and need more icing on the cake, consider offering an equity share arrangement.

Flagstaff is beautiful, but cold in the winter with a lot of snow (it dumps and then melts & re-freezes - watch out for black ice), is mainly a college town, and is very cliquey (if you were not born and raised there, you will always be considered an outsider by the locals). 

I have one up for sale (2029 Gloria Ln), and it's cold as ice out there right now.

Rental properties and investments accomplish the wealth build... and if they also offer a tax benefit that is just icing on the wealth cake.Build wealth!

This is cream of the crop stuff.A PE "investor" called and says "I want to send you a letter of intent". 

Last time I framed in PA (Yes, I have but that was back in '89) we didnt install the ice and water.