The only exception is for on-site managers, like you'd find living in one unit of an apartment building and managing the building on behalf of the owner.

Too many low income apartment buildings near by / vacant buildings. 

I'm just beginning but am considering a bigger commitment in the next five years or so by accessing some or even all retirement funds to buy a building (I'm sure people have thoughts on whether or not that is a good idea!).

That 2nd floor unit I would like to divided into 2 apartments.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

Building Fire Stations? 

Quote from @Amit Chugh: While searching for apartments, i noticed a commercial apartment listed as Section 8 property, does it make any difference from buyer/seller perspective when it's listed as section 8 property.

Does it look like a modern-ish apartment with breezeways and internal stairs, or is it built like a roadside motel with long walk ways along the front.  

I had to drop a rental by about 10% and an apartment building I'm invested in that we were helping to lease up we had to drop 25%.

I am about to pay the land cash 500K, then build 10 apartments for roughly 1.5M.