Again several factors at play but just providing information based on your criteria.

In your case looking to larger assets where you can effeciently cost segregate to gather bonus depreciation would be a smart move.Appreciation - Where in the country is the asset class you like growing or going to be growingAmortization of the loan - What sector or even region if you look locally for funding, is going to offer the most favorable lending so that less goes to interest expense and more to pay down of principle.Have fun with a spread sheet comparing these 4 returns from your investment with the type and location of assets you find attractive. 

Quote from @Randy Achi: This is where a mentor would come into play big for you!

Book losses through bonus depreciation.4.

If you're an LP that meets the requirements for REPS, but you're not materially participating, losses generated from bonus depreciation is unlikely to help you offset non-passive income. 

Properties north of Greenridge St. are a fair play. 

I knew it was a long term play as well, and wasn't looking for something immediate with them.

Quote from @James Kerson: James, play along with me:1.

We are under contract on another right now, but it's an appreciation play.

Wouldn't the equity I have play a factor in this?