On the other hand, if you know your market very well and see an opportunity to increase rents with a small capital investment then you may be able to achieve a $120k NOI after purchase.

Does this mean if own a property with multiple units can I be excempt of the whole building?

My CPA has instructed me that the auto expenses (at least the proportion used for rental activities), overhead such as office supplies, software, tax preparation, and other items which occur to operate the rental properties (AS A WHOLE) are expensable on Schedule E relative to the activity (e.g. based on number of units per property) by "cost accounting or cost allocation".

The returns, on the whole, are better in Cincinnati than Columbus but Columbus has the security of population and job growth.

@Kevin Dupuis Be sure to split your entire basis in your property as a whole between land and building when coming up with the amount that you can depreciate.

I haven't let that slow me down or discourage me, just like the old saying where there is a will there is a way, and I whole heartedly believe that.

Since I have been studying here and listening to financial independent discussion, I often hear that their service can help you achieve the goal you set. 

Hello biggerpockets members, I am a newbie at this whole real estate investing thing and I keep getting that awful feeling like I am wasting my time on Zillow/realtor/Trulia etc.

I'm not a lawyer, but If you are not taking title by assigning your contracts, there doesn't seem to be a whole lot of exposure there.  

Once you've achieved that added value, you can take that to a bank and do a cash out refi which will return a substantial portion of your investor's capital.It's the value add leveraged by the power of the cap rate that really makes you your money.