The only statement I think it makes is about their stupidity and lack of character.  

Sure, you could get cheap properties in the middle of nowhere; but, typically you’re not going to find these complimenting attributes.

., 17.5 years remaining for residential property).New Schedule: Simultaneously, start a new depreciation schedule for the additional cost basis attributed to the replacement property, following standard timeframes (27.5 years for residential, 39 years for commercial).Option 2: Treat as New AssetCombined Basis: Treat the entire cost basis of the replacement property (carried-over basis + additional funds invested) as if it were a newly acquired asset.Single Schedule: Depreciate the total cost basis over the standard timeframe for the replacement property type (27.5 years for residential or 39 years for commercial).If you choose option #2, you need to file an additional form (4652) with your tax return. 

These can be character reviews if you are just getting started.

I can speak for the character of Location rentals.

Was a complete mess inside, very bad smell, rat infestation and all the attributes making it a good deal for an investor.

Was a complete mess inside, very bad smell, rat infestation and all the attributes making it a good deal for an investor.

Basically it can ruin the character of the area. 

That's what I'm getting at.Yes I understand how different "characters" of income are taxed differently.  

Lazy River, water slides, gym, restaurant/ bar, etc).Themed rooms - make the bedrooms attractive by theming them with characters (Disney, Harry Potter, Star Wars, etc).Games Room - these are often located in a garage conversion or a left area.