The tax code is not a secret and there are many, many smart people out there who can, will and do interpret in your favor every day.  

I’ve heard that newer versions of QuickBooks Desktop now operate on a yearly subscription basis, but I prefer a one-time purchase if possible.Could you please share where and how we are able to buy it?

Feel free to contact me I'm in the city everyday.

Depending on your income You get to take depreciation off your regular income (usually up to $25k) of 3.6% per year of the building’s value.Many of your everyday expense can be deducted from your income as business expenses. 

You will be negative cash-flow of $12,000 on an annual basis which has a negative cash on cash return.

Otherwise, there doesn't seem to be a basis. 

@Jide Alufa I Would recommend looking at an investment on a deal by deal basis.

TLDR:What about a step up in basis at the death of a spouse?

I get all the listings everyday and all pending/sold. 

I see cancelled expired listings every day come from these markets and find out they have no equity.