It may not be worth it to take all of the bonus depreciation and to elect out on some and save for the future.

With all the uncertainty going on with the world, with the wars in the middle east, longshoremen strikes, election in November, and potential for stock market and housing market crashes, should I hold off on purchasing real estate until the world is more "stable"?

Yet, both the guest and the host, considered experts, had no problem believing that.Cuba: foreigners can'y own property there, even if they wanted.Venezuela: the last place in the world I would invest but there's a ray of hope with the upcoming elections.

Typically, it's a 2 year hold. 1031 is not meant for fix and flip properties.

I'd also go in with your own agent.I'd bet the listing agent's company is keeping the deposit even though it is meant to be in trust. 

You can make an election under IRC Section 469(c)(7)(A) to treat all your rental real estate interests as a single activity -- an election to aggregate them all.

LLC with S-corp election saves you the double taxation, you can put yourself on payroll as a W2.

This is meant fo the newbie out there who is in my situation and is just thirsty for any info to help them make a good decision.

Hey,There are a few items to consider, first have you made a grouping election for all of your real estate activities as a real estate professional?

It is like joining a vegan club and crap on vegans because people are meant to eat meat.