Depending on the asset purchased, it will depend on the time that it was purchased.Real estate is placed into service via the mid-month convention.Therefore, if you buy a property in August 1, it is assumed to be placed into service on August 15th which gives you 4.5 months of depreciation.If you buy a property in January, you have 11.5 months of depreciation.However, if the asset you purchase is eligible for bonus depreciation, most of the depreciation would be taken in this year.Best of luck.

No, cash flow can be a bonus and a penalty at the same time. 

If it was too generous for the buyer and let them out too easily, why did you agree to it?

You step in and offer them a creative finance solution that looks like this: (these are real numbers btw):Seller asking: $275,000 for 3/2 Single family split level, 1400 Sqft, with bonus room in basementYour Seller Finance terms as follows:Down payment: $20,000 cashSeller carry back financing amount: $255,000Terms: 5 or 7 year note with balloon @ 2.75% (or any negotiated terms here)Principal & interest: $867.61 per month (wow!) 

The pension amount at age 39 is not enough for me to feel comfortable, so my long-term plans are to start a small business and invest in real estate to position myself where I don't even need my pension, and it's just a bonus.

Having to collect the rent (which is done electronically), deposit it and transfer it each month, shouldn't take more than 30 min in total (being very generous).

No 1231 treatment.Third, with the cost seg study, you only get bonus depreciation if you didn't previously have an interest in the property. 

Whether you pay off the properties or keep them, don't forget that you can do a cost segregation study and use bonus deprecation to off set taxes.

The price looks reasonable to me, particularly for a painter that does excellent work.Colors won't affect the appraisal, but the nicer a place looks the more generous the appraiser will be.

You can consider paying him more for his exclusive time and give you a bonus for completing ahead of schedule.