:@James Wise in fact a quick search gives this for Cleveland (no wonder you're so sensitive about it, but the authorities do act!)

The fact that the name of this OP is what it is, clearly just got you and the other guys who believe in it, a little sensitive.

Definately a sensitive environment.

Why not lease and deduct the lease while taxing rather than fiddling with the sensitive subject “Depreciation” ?

In the end you just have to ask yourself if you have the time to manage it or manage your peacemealed portions and then you also have to factor how effectively you'll be able to manage it and if you'll be able to 'safeguard' the property properly from a distance.

Since wholesaling is my chosen avenue to get involved with real estate investing (due to my desire to scale my business based upon being self-reliant in finding deals for fixing-and-flipping in the future), I'm a little sensitive to (perceived) acts of disregard for the profession. 

Elio L.angry callers are the least of your worries, its the old man whos on disability that has nothing but time to file a lawsuit for predatory sales tactics...Short sales leads are sensitive people as they should be...Just be careful what you put in the letter, don't tell them you want to help them, don't give them legal advice, if your looking to buy their property make sure that's all you tell them..

While I do have good relationships with all my sellers, I safeguard myself by depositing my payments directly in their bank accounts.

You need to get your volumes WAY up to play probates.Probates are a bit better than just mailing to owner occupants, but we've found that they are expensive to market to (plus you need to be SUPER sensitive in the communications with them), and this prospect pool is not as productive for us as - for example - absentee owners.Everyone thinks probates are great and they are, but they are not easy or cheap to develop as prospects.  

I would expect that feds would be sensitive to too many hikes, when we are in this "inflated" territory... but, technically economy is generally healthy, so who knows.