I have dabbled in real estate, but never heard of brrrr before now, and transparently never did much research outside of knowing that property ownership was a way to reduce my taxable income. 

Learned that from a family member.

@Michael Challenger I scraped all the cash I could find and borrowed from family.

I just completed an exchange of a single family residence in Scottsdale to a single family residence in Durango, Colorado. 

By accelerating your depreciation schedules, you reduce your taxable income which in turn increases your operating cash flow.

All of my family grew up near Baton Rouge and went to LSU, so I'm rooting for you.

Yeah- I have family in New Orleans so that's kindof why I was leaning towards it/investigating.

I may know her family if any are still back there.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

Quote from @Kash Tacke: Hi,I have two single family houses in Detroit currently rented out.