They destroyed everything in one year that was not bullet proof.

A local performing arts sighned a 20 year lease with the city for $1 per month in exchange for them paying for the renovations needed, to keep it from being destroyed.

For the work required to destroy the existing system: You're right, this is considered a land improvement and will have to be depreciated.  

I'm wondering how I go from there to wholesaling in quick succession without destroying myself financially.

She says the tenants are horrible and have destroyed the place.

On the flip side, students can sometimes cause more damage than your average renter, so make sure you're asking for a deposit that will cover you if they destroy the place and always make sure you require renters insurance.

Additionally tenants tend to destroy properties they live in resulting in additional renovation to sell. 

Just make sure that your not going to get destroyed by a flood.

I'd be careful with Holton-Wise - they appear to charge a hefty fee for turnover that will destroy your return.

After finding out about subletting, a thrashed back yard, domestic violence, broken doors, smashed windows, smoking, melted vinyl on the new kitchen floor, a leaking toilet, a destroyed lawn and on and on....