A good mortgage broker or banker can advise you on the details ...OK ... this is my beef with the Podcasts and success stories like these ... most of the time if you study them carefully, the person with the success story is what I would consider a newbie ... they may have a few deals under their belt, but have only been in this business a few years, so all they've ever seen from a RE market is green pastures, they haven't lived through a downturn.

I went from lender to lender and each promised me they could make the loan but each (I went through 3 before I was convinced) "discovered" this odd rule preventing them from making the loan.  

To get the most out of the section 481(a) adjustment you can use a cost segregation study to fully correct your depreciation, but it might not be worth the cost of study on that property.

If it had all the similar upgrades the case study property, than I'd completely agree with the conclusion.

Now imagine if that college student had access to money, did not need to spend time studying, and had a predilection to things that go boom; that's what your average young military renter is like.

A lot of newbies get tunnel vision and only studies the rehab industry.

I have been studying master lease agreements, and Lease options.

I'll take your advice and study up on it myself, so that when the opportunity presents itself I'll be able to talk about it intelligently.

There is a wealth of knowledge on here that I myself am only beginning to be able to discover.

@Ted Klein You may give cedar mills property mgmt a call - my brother rented from them for a couple years and was really happy - I stayed the night at his house as I live 2 hrs out of Wichita now - anyways back in March on a Saturday about 4-5pm there was a broken water pipe from a sprinkler system that my brother discovered - it was a freak accident on how it broke - but would have flooded the basement - we got the water shutoff.Anyways to get to my point they had a plumber over in a couple hours to fix it.