People will always kick the bucket and leave property behind to get sorted out in probate.

A bucket in the yard works but express that they cannot leave a mess in any nice finished lawn or driveway/sidewalk areas.Level 3 is fairly standard, so it might be worth confirming this is what they are quoting.Prime and paint is straight forward.

@Johanna V.Holy buckets what a pain!

This can allow depreciation to be taken where there is otherwise taxation and the tax-deferred (or tax free) status of the retirement account can completely shelter the loan income.Some people oversimplify this to mean "don't buy real estate in an IRA" which is just misguided, in my opinion.It's really all about maximizing the performance you can get which each available financial bucket you have.

It gets more complicated if taxpayer used the proceeds for multiple "buckets".  

However, this option also requires that they share their candy with other children who knock on the door and they will soon discover a rapidly diminishing supply of sugary sweets in their bucket.

Which accounting bucket you get it from isn't going to change the Big Picture.I always use a percentage of rent as CapEx whenever I'm analyzing a property.

Everyone is making this into a bigger deal than it is. 1m sf & 25k jobs is a drop in the bucket for NYC.

Last but not least in the "why DSM" bucket you have your traditional three motivators: low cost of living/affordable housing, access to well-paying jobs, relatively safe neighborhoods, and decent schools (I recognize, that is technically four and a half but I am rolling with it).

So how much are you willing to put in one bucket?