The code, regulations and rulings do not have any specific holding period. 

I'm not sure what else I can say here without breaking the BiggerPockets rules for forum posting.

It breaks the IRS rules and constitutes mortgage fraud.So, the tax-reduction game is to have rental properties that cash flow and then have enough depreciation deduction to erase all the cash flow and create deductible losses.

Is there a general rule of thumb that is used when underwriting the cost of tenant turn over?

Times and rules constantly change in real estate and I only explained in my book what I did, not what is possible and legal today.

@Bob Floss II, do you know much about the AirBnb rules for renting out a single room of a unit or a garden unit in Chicago?

There are also some other restrictions like your annual income. 

Legal lending limit,  geographical restrictions, 5/7/10 year rates, Amort maximum, DSCR Req, max Leverage, banking relationship. 

While I have some sensibilities already in place from managing a property I won, I’ve been reading a ton about REI, reading many of the posts here and listing to the podcasts, honing my big picture understanding of the industry.Some “rule of thumb” figures keep coming up. “2% rent to value”, “15-20% cap rate” … I’ve been scouring the field nationally (calling brokers, meeting with agents, looking on MLS) and these figures seem close to sci-fi.

Here's more information for things to consider-https://www.biggerpockets.com/renewsblog/2013/08/1...As for taxes, I wouldn't take any answer as gold until it comes from an accountant/CPA who does a lot with real estate (so they are up on all the laws and new rules coming out, etc.).