you would add up the expenses, including depreciation, and capex - big ticket items - would be depreciated rather than taken as a one-time expense.passive losses are limited starting at 100K and phased out entirely at 150K - read pub 925 if you want:https://www.irs.gov/pub/irs-pdf/p925.pdfyou're saying "receive back in taxes" though - again, none of us knows whether you're receive anything "back". 

I don't think you'll be missing something with either choice. 99% of what I end up doing is with pretty basic stuff: e-mail, browser, maps, flashlight app (amazingly handy), camera, weather apps, calendar, productivity (pages, numbers, and keynote, the iOS equivalents to word, excel and powerpoint), calculator, kindle app, iBooks (mostly to capture .pdf documents), banking apps (from your bank), open table (restaurant reservations), trip advisor app (handy for finding stuff near you, though the map apps are pretty good at this, too), airline apps (flight status, online checkin), clock (haven't used a watch in years, also for timers, stopwatch, and alarm functions), pandora, fandango, flash seats (concert tickets), and a few others.These phones are really handy when traveling.

I just created a ticket for our developers.

So it depends on how many "tickets" are in circulation.

Fire your realtor because he or she is representing his personal wallet, the seller is the second most-important person and you are his meal ticket.

They have affordable flight prices(from LA area) and better ROI.

I have been doing business in the cleveland markets for about 10 years,,,, crazy returns Sounds like I need to take a flight out to Cleveland.

The plan is to towards closer towards the next tenant moving in. that's when all the appliances and top ticket items will be installed. like you said it's a part of the game! 

My only advice here would be to make sure you have access to sufficient working capital should a bigger ticket item need repair or replacement before you are able to set aside enough from monthly cash flow. 

I have season tickets myself :)I've met a few other investors in town.