So I got into a really dated unit that was in good enough condition to be financeable, for maybe a 10% discount.

In episode 85 of Straight Up Chicago Investor podcasts, @Mark Ainley talks about how in the last few years you are required to not pull credit/background check until the initial screening is approved.

Do be aware the bank will looking forward market value, it won’t be a big discount. 

You can actually even sell and purchase on your own without a broker but with limited knowledge and experience in the field, you'd be discounting your own returns in the long run with limited short term savings. 

This is a great forum with very knowledgeable members that will help to guide you in the right direction.I really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alertsThere are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

Capital goods/improvements like appliances, mechanical, flooring, a roof, siding , driveway, etc will have their own schedules as mentioned, but the building depreciation is straight line and easy.  

In hindsight it we should have gone straight to the studs right off the bat. 

If those things aren't taken care of, and quickly, you just kissed goodbye 3-4 nights of rent straight away.And just because you self manage doesn't mean you make more money. 

The keys that I’ve discovered up north is to build your relationships with realtors and people in the trades to get the best beat on what’s for sale off market, and to keep an open mind out for alternative uses for buildings maybe no one else wants that you can purchase for a discount and then repurpose easily to fit your needs.

To get my bearings straight, I contact my realtor/mentor with more experience than anyone I know.