So if you are starting from a negative equity position it takes a lot of time to build that up.

It's for multifamily buildings with 6 units and above.

Primarily this applies to when one took bonus depreciation on land improvements, or in the case of nonresidential property, qualified improvement property.The one type of depreciation recapture you can defer with an installment sale is "1250 unrecapture" - this is that typical 25% depreciation recapture rate that you think of, which is the depreciation recapture on the straight line building and/or straight line depreciation on something like the previously mentioned land improvements or qualified improvement property.Allocation of the sales price is incredibly important here. 

There are people still moving to TN, which will continue to push pricing up, and while most of the country has seen rents either flatten or go down, most of these markets have done pretty good.Problem is in the short term it may  cause an affordability problem, especially in the smaller markets that don't have enough building.

I agree but first time owning a 4 unit building, my attorney suggested giving them 2 months free rent to avoid any exposure but they're definitely trying to shake me down. 

I too often see people trying to build a site by themselves and compete with highly optimized websites.

Also, if I build an insurance agency that would generate passive income for me as I get a % of my teams sales. 

Clearly at the time the land was divided and sold, it was considered acceptable to building houses on this size lots, even with septic.

I have a one-page document that the tenant(s) signs that $XXXX is a holding deposit and is non-refundable. 

Best of luck on building your portfolio.