For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

Hey Nathaniel, I suggest defining your goals – what exactly do you aim to achieve? 

They are also simpler over the life of the unit to maintain because there are just three main components instead of four(+) with HVAC.  

And finding what components in what condition = what $ and time in sold. 

This will define their deal size.

Some people define the Catskills as the four rural counties west of the Hudson River in SE New York, Green, Ulster, Sullivan and Delaware.

.#2 just about defines a "newbie": someone with little or nothing to offer other than futures.

@Moira Baggett it's hard to answer without knowing more specifics on what you define as a "failing" syndication investment. 

Hey Daniel,That is great that you have defined your metrics, but as @Ray Hage stated, a turnkey 7.5% cap does not exist in Miami unless you are buying in the really rough parts. $250K a unit is also somewhat realistic in those submarkets, though not impossible.Your best bet is a value-add strategy on something that has significant upside with a high growth submarket.

Hey Shalonda, When renting out a property for mid-term stays, typically defined as stays longer than 30 days but less than six months, the tax situation can be a bit complex.