@Natalie KolodijNot 100% true, strictly speaking. per section 1250(b)(3):... if the taxpayer can establish by adequate records or other sufficient evidence that the amount allowed as a deduction for any period was less than the amount allowable, the amount taken into account for such period shall be the amount allowed...HOWEVER, as I mentioned above, (per section 1016(a)(2)) you adjust the basis by the allowable depreciation - which means you would have to pay capital gains on the value of the allowable depreciation without ever having taken a deduction for the depreciation.Taxes are easy.  :-0

So if I buy it I don't know if a sump pump is adequate or if other measures need to be taken.  

I just want to be sure I have an adequate amount set aside for the end of the year.

I spoke to a realtor and set a price that I did not want to go above, although I could have been approved for more being a veteran and first loan with adequate debt ratio. 

I've attempted to add extra units to a couple properties I own there and they weren't having it, and I even had adequate off street parking.  

Attempting to refinance, the title search company found an issue: they don't feel that the County I purchased the property from adequately informed the previous owners, who had abandoned the house, what was going on.

Sequentially purchase multiple buy and holds, mainly focusing on commercial buildings, again one at a time.I'm keen to get perspective on the right number of entities to establish for both adequate protection and maximizing tax benefits.

A certain amount of basic and advancedvknowledge is needed in order to adequately provide a service to the PR. 

Make sure you know and understand all the rules because the IRS doesn't allow ignorance of the rules as an adequate excuse when they start assessing penalties.

Some may require 6 months or 1 year or longer of ownership before they will allow you to cash out your "skin in the game" even if the loan to appraised value is adequate.