I am not sure where exactly this property is, but this is an example of why I prefer B class neighborhoods or better when looking for rental properties. 

If you are considering this approach, I suggest you buy an A-class property in a landlord friendly city and get a PM.

You will receive a report as a result of the cost segregation study that supports the breakout between asset classes and new depreciation schedule in the event that you are audited by the IRS.

You will hear about west side vs east side, while what is told is true, what is not mentioned is lower class areas are block by block. 

The reason is over a course of time the vast majority will never payoff and the fund will have to foreclose and take possession which cost a boat load of money ..

That is how my portfolio had been stacked for 10+ years - I would buy class A/B assets with little cash flow but hold long term for appreciation.

This can help reduce risk and volatility by preventing overexposure to a single asset class. 1031 is only for investment property.7) Deprecation Schedule resets when the property is purchased in partnership with a DST.

@Mike Sfera some property managers might do this and maybe give you general guidelines on what to expect for Class A, B and C areas, etc.

I'm looking to enter this asset class at a smaller price point to learn it more.

Evan took an online class and learned how to replaster walls and yes I do mean old school plaster.