An obsolete Schedule E will not be used.

At what age does an apartment building become functionally obsolete?

It's a fantastic product, but water expense alone makes it as obsolete as the 18" broom closet we removed.

The man who did the webinar said that "small time" real estate investing is soon to become obsolete because real estate is slowly becoming more of a commodity and that large corporations like Walmart are venturing out to invest in 100s of properties at a time, leaving the mom and pop real estate investors struggling to keep up and find properties.  

Newspapers are obsolete and I don't know if I'm just in such a rural area that people don't use the tech.

I willing to take action to do this, but is it effective use of my time or is it obsolete in 2015? 

Here is what I am getting hung up on:- It seems that the Application to Participate (HUD-90036) and the Counseling Cert (HUD-90038) are now obsolete/not required to be submitted with the package.

Interesting article in Forbes:https://www.forbes.com/sites/brucekasanoff/2014/04/04/real-estate-brokers-obsolete/#3e787c367953

They want to call us all out and 'step up' without alleviating or even addressing the underlying issues that made these programs essentially obsolete in this market.

What you will find is that using this rule of thumb will generally chase you to tertiary markets and/or functionally obsolete buildings.