Without a cost segregation study, you would depreciate the $12M over a 39 year period, $307,692 per year.Within this office building, you have assets such as paved parking, specialty electrical, finishes, carpeting, landscaping, sidewalks, office furniture, electrical systems, plumbing systems, etc.

Also, with my yearly maintenance/capex budget originally at $3000.00 my agent made a good point saying over a 10 year period do I expect to put $30,000 into the property with many things new.

So it's not the communism of 1985 China nor any other period. 

Will it generate good cash flow year round or just a small period of the year?

I did mess up and waited to send the pay or vacate on the 5th at the end of the grace period.

After a period of blaming myself for being too aggressive, I realized the main reason I couldn't weather the storm was under-capitalization.My absolute truth is the knowledge that this business can provide long-term wealth and the freedom to manifest whatever you can dream. 

Pros-Low effort-Experienced managers-Strong returns-Usually low risk (preferred returns of 8-12%, often diversified)Cons-Fees can reduce potential upside (can be 15-20% of returns above 8-12%)-Illiquid (you are committed to a certain hold period)-Little or no control

The 10 year period you are referring to is for Structural, not cosmetic. here is a link to NJ DCA consumer information on New Home Warranty: https://www.nj.gov/dca/divisio...

If you don't want to enter a long-term relationship with the partner, you can structure the operating agreement for a buyout after a certain period of time.  

And they are typically interest only during the withdrawal period.