Depreciation is an expense that you take "on paper" each year you own a piece of investment property.

Hi Liridon - the papers make this out to be so much more than it really is.  

Then, products such as HELOC or 1031 exchange are not open to me as a foreigner so even though i have on paper $500k in equity I don't have a real way of tapping into it.Any ideas or suggestions what I can do now to keep growing would be much appreciated!

Dont read it off a piece of paper, it will sound like you're reading it and seller will hang up.

Your numbers are simply not worth the paper they're printed on if you really need to rely on a home inspector to tell you about the property's build quality and condition.

Sure looks good on paper, but if you have tenants like mine...

But a licensed brokerage as you state will have E and O  there is clearly Errors and omissions here that any agent who has half a brain would have seen by personal inspection or reviewing paper work and helped steer the client away form this mess. 

Lawyers, just paper pushers?

I've warned a few people if you don't have large cash reserves are and are buying Class C in Midwest (I'm talking especially to my California friends), get ready to pay out for all the repairs and cap ex on your "cash flow on paper" properties (like I'm doing). #5 There seem to be shills for these gurus/mentors posting on the forums. 

If they want cash right away then they have the option of selling paper right after closing.