Since this is the first time i'm investing in a building, i'm a little clueless as to what sort of CapEx expenses i should anticipate, unlike with the SFH i'm fairly familiar. 

It becomes the death of a thousand cuts sort of thing. 

I will be getting these items noted in the sale contract, but I am wondering what sort of depreciation schedule to follow (by the bye, this is a property located outside of the US, so will be depreciated using the ADS) : should they be depreciated over the full schedule prescribed in IRS publication 527 (9 or 12 years for most things, I think), or do they qualify for a different kind of depreciation since they have already lived a little.Thanks for any and all insight !

Just sorting through my options here.  

What sort of emergency are you thinking would require you to rush to the property?

I could even make the basement into my own living quarters and be sort of closed off from the rest of the house.Tato: Thanks so much!

The plants and grass right up against the house is an issue, there is almost always going to be some sort of water damage. 

At worst, I think I could make $800 a month on some sort of house hacking strategy - live in the main part with a roommate and rent out the MIL suite, or rent out the main house while living the MIL suite.

We follow a sort of Dave Ramsey approach to our reserves. 

I guess what sort of liability is worth doing that since the deductions are the same and I figure the auto insurance must be more since it’s commercial?