Jim you keep doing these post like this and NO ONE is going to buy rentals ever again LOLbut seriously I like that you balance out all the blue sky and bring reality to the equation.buying rentals is not a set it and forget investment no matter what.can be with really special A class to strong B class but no way with blue collar 800 to 1000 dollar tenants.. don't care where how or what.. they are all people. some are pigs some are clean and neat some in the middle and you can't tell with an application .I suspect if you took the time to go check out their automobile before you rented to them.. or did a sneak pop in on where they are living now before they move into yours you might catch the pigs before they move into your freshly rehabbed home.

Depreciation rules for automobiles improved significantly, however I don't think it would apply to you.

Think buying last year’s model automobile and getting $10K off the sticker Price.

For example, when there is high demand for automobiles, even a poorly run automotive company can survive.

It's a very old property (late 1800s), so I will be wanting to set aside a good chunk of money in a reserve account for maintenance and Capex.I'm currently self-employed and write off everything under the sun (that's legal, of course) on Schedule C including all home office & related deductions, most of my automobile miles, cell phone, etc, etc, etc. 

So longer term, NYC will be valuable unless there is a major technological revolution and NYC goes the way of a Detroit which was the worlds automobile capital at one time. 

Planes/Trains/Automobiles, Oh My!

My background has been with accounting, management, finance/insurance and sales in the automobile and motorsports industry.

Add additional income sources: If you have some vacant land, consider adding some mini storage units, or fence it off and offer storage for RV's, Boats, and extra automobiles.

The automobile manufacturing business has been hit hard and that has really effected the economy up that way.And on another note I know my fantasy QB is from Cleveland and he is stinking it up - hopefully he can turn it around vs cincy this week.