To me, my real estate portfolio is an extension of my footprint and it's my ethical duty as an owner to make reductions on this front, too.What are everyone's thoughts around electric furnaces?

The depreciation expense comes into cash flow from a reduction of income taxes.  

My concern is less the 3 years than that you need both a rate reduction and rent increases for it to be 3 years.  

However, Wall Street anticipates more aggressive rate cuts than what the FOMC suggests, expecting a total reduction of 1.5 percentage points next year.The U.S.

Basically, the IRS allows (in most cases) a reduction of active W-2 income by up to 25k of passive rental loss.

As for principle-reduction, you are essentially paying for that yourself... not your investment.

This increase is akin to paying 25% more for the financed property than a year ago (discounting possibility of rate reduction and financing out which could happen). 

Make sense from a risk reduction point to lenders.

Expense reductions are more sustainable than margin improvements and they have the same bottom line impact to your P&L.

If someone goes on vacation for a few weeks, they don't get a "credit" for their non-use beyond their pro rata natural reduction in the overall bill for that month.