I've met with a few local agents here in Portland and one, in particular, seems to have the right team, mindset, and knowledge to help create and accelerate the growth of a portfolio. 

Another example, by observation, can a CPA determine whether millwork qualifies for accelerated depreciation treatment?

Leverage accelerates losses and then you're stuck with a property and tenants until the next boom.

But I am very optimistic and have been accelerating my learning capacity by literally doing 4 to 6 hours of study each day.

@Paden Anderson lots of great minds have already commented on this but I will give my thoughts.First of all, it sounds like your strategy is to accelerate pay down of 30 year loans and at the same time purchase new properties with 30 year loans.

Sounds like the same plan as others getting into turnkey, just accelerated by the inheritence.

But I may be able to purchase another property to live-in and rent with the $60k as a pretty reasonable downpayment, which could accelerate my retirement plans.

Ive always had a passion for real-estate but only started to really accelerate my REI education within the last three-months.

As quickly as they issued that loan they can invoke the Acceleration Clause and you would be required to pay it off (refinance it)  During the loan process you will sign several forms stating you understand the program and it's parameters.

Couple that with the fact that you're getting hit with recapture when you sell whether you take the depreciation or not and it should be clear that you should take it.Alternatively you could not take it and file Form 3115 in the future to catch up on missed depreciation, but that'll cost you a pretty penny to have a professional fill it out for you and likely not be worth the difference from jumping a bracket unless it's a high value property and you'd pair that with accelerated depreciation which doesn't seem to be the case here.