Whether it was regular depreciation or bonus depreciation from cost segregation - same treatment basically: no immediate tax consequences. 

If you do that, it goes on Schedule E like a regular rental, but the difference is that the tax loss isn't limited by the passive activity rules on form 8582.

You might want to listen to some of the BP podcasts on some of the other ways that real estate "pays" you, outside of cashflow.Keith Weinhold from Get Rich Education also has a good podcast and regularly discusses the 5 different ways that real estate pays you. 

I'd like to invest back home in Ohio eventually (I lived in both Columbus and Dayton for about 5 years each), but I'm much more comfortable starting with something I can see regularly. 

Is this what you are referring to as well? 

Here is the summary if you are interested.In this case, the main question is when did the investor completed his start-up phase and became actively engaged in his business.Whether a taxpayer is engaged in a trade or business is determined using a facts and circumstances test under which courts have focused on the following three factors that indicate the existence of a trade or business: (1) whether the taxpayer undertook the activity intending to earn a profit; (2) whether the taxpayer is regularly and actively involved in the activity; and (3) whether the taxpayer's activity has actually commenced.

This is what I'm referring to --> "Justice for Renters Act" This is coming up on this year's November ballot for the entire state. 

I was just talking to a buddy of mine who's looking to enter the markets, and I still referred him to Mousa.

But classifying your depreciation (either the leftover annual depreciation after taking bonus depreciation, or the regular amount of depreciation if you didn't take bonus depreciation) can be taken as an active deduction against your W2 income for as long as you materially participate in the property.Disclaimer: I'm not a tax professional so not financial advice. 

My understanding is that you will not get the tax credit and could only write it off and a regular capital expense.