Once its all broken down you can depreciate the property correctly under the Modified Accelerated Cost Recovery System (MACRS) which would include 5 year, 15 year and 27.5 year depreciation for a rental property. 

Under a full guardianship that means we are untimately responsible for everything, income, expenses, housing and medical decisions, taxes, debts, mortgages, wills and estate planning, suing or being sued, investments, real property, unique asset liquidations like oil/gas leases, coins, fine art, notes, cars, foreign real estate, boats, wine, financial exploitation investigations including forensic accounting, criminal and civil trial testimony and recovery of funds when we are lucky, budgeting for liquidation of assets in order to fund medical and care expenses, (I could go on for hours); basically everything you can think of in your life... imagine someone else having to do that for you because you're incapacitated.In my work I'd estimate I've been involved in the sale of 300-400 properties, maybe 100 probate cases and many hundreds of guardianship and DPOA cases.  

Throw in market factors when you don't have 5 years to wait for a market recovery and you're screwed in retirement.The solution (and I agree with the article) is buy the first house with cash - even if it is a $35,000 "pig", save the net profits (after reserves), buy another one with that profit, and let it snowball.  

Its an interesting trend the Rubs programs in multifamily is including more and more  Trash, Water, common area energy, vacancy recovery. 

When applied properly, Modified Accelerated Cost Recovery System (MACRS) depreciation helps property owners keep thousands upon thousands of tax dollars in their own pockets.

The recovery is taking a bunch more time than I thought I would have originally.  

The recovery is slow, and it is happening.

It's not just the crappy areas that fall victim to theft.Take the time paint the tools with names and engrave stuff on them in more than 1 place.. so if they are pawned you'll have better chance of recovery,, take photos of what you havebut basically tools for some reason have legs.. they walk off.. never to be found again.The security system stuff is fine but finding the creeps and monitoring the system isn't easy..It's when they rip off the copper, and break stuff that things get personal.

We are now most thankful to be looking at a full recovery, thanks to the people at Children's Memorial Hospital, my wife, and the many friends who have supported us.

@Jason V.Personally I would only take on a commercial at the beginning stage of a recovery, not the tail end....