IMO this is the one that counts, as it gives you an idea of what the property's potential value/ROI is.

Just to give you all an update we still have that house listed even after lowering the price because our “wonderful” mentor failed to explain some reasons why sq footage of a house might not count, such as not having AC/heating.

Don't count on that as a means to move the property although it might work to generate more income if you decide to keep it. 

This depreciation counts as negative income, but it’s only negative on paper since the costs of keeping a property in good condition can be paid for out of the rental income.Thus, the depreciation “losses” wipe out the positive cash flow from the property and remove any tax obligation.

As an owner of rental property, they count against your operating expenses just like property taxes.Learning to operate within established limits has it advantages.

We purchase our student rooming house as a "home" for my sister-in-law {she does live there ... see below} and, because of that, the rents did not count towards income for the purchase.Clientele: When we looked at rooming houses we found three basic types of rooming/boarding house in our area.Student - there are two universities and community college in our little city, so students are a prime clientele;Industry/Organization/Institution - another type of rooming house is one which is near and caters to a particular employer/workforce (i.e. a factory) or institution (hospital, military).Social -  the third type in our area is the rooming house that caters to the working poor, the addicted, and other on the edges of society.Each of the above types of rooming house requires a different set of skills and management style.  

He's at his desk opening money bags, counting coins singing:Ringle, ringle!

Count on paying for the information.

The short answer is that they might follow through but you cant count on that. 

Be very careful how you count the days.