There are certain lifestyle changes all of us are willing to accept to get a more prosperous future.

We even singed an exclusive rep agreement with one broker on the buy side.  

But if they exited without issue I would accept them.

Naturally it depends on kind of actual project from just better house to luxury unique house if this is acceptable for this location.

Standard depreciation is where you depreciate the value of the house (minus an estimated value of the land) over 27.5 years.Accelerated depreciation is where you break up the key components of the house (i.e. roof, floors, windows, hvac, etc) and depreciate them over the IRS' acceptable lifespans of each one.  

I will leave the (I)legality of it out of the discussion and just look at the overall strategy.You would need to get your agent to get an offer accepted on the property and then you would need to find a buyer willing to pay you a price that is higher then the listing agent and every other agent who is a part of that MLS could find another buyer to pay.

Neither bid was accepted.

We countered with $75k, he wasn't happy but he did accept. 

Why would the owner accept $60k now?

Valued at $157,637 could accept a 30% reduction for a quick Cash sale at end of January.