Can't use bonus depreciation but could use accelerated depreciation and get most (not all) of my rental income tax free.

Then get hit with the capital gains tax, but then when you buy second property and live in there 2 years and sell, do you get to transfer over the 2 years no tax benefit since you did not use it on the first property?

They try to desperately tie people leaving to the budget deficit but then have to admit it was more about reduced capital gains taxes and job losses in the tech sector.

Something to consult a CPA about is the tax write offs.

1) Who's paying real estate taxes?

A lot of these markets are also landlord friendly and offer lower taxes as well. 

I use the rental calculator all the time to analyze deals as well as some of the other features and then write off the costs as education at tax time.

That's how the tax man see it.

Now she complained the issue of toilet fill valve which caused unreasonable high water bill and claimed it belongs to wear and tear and a plumbing issue.

This is new to me and I know NJ isn't the best state to be a landlord, so trying to figure out what my rights are.Secondary question - is it worth going through the small claims process to recover $7,000 from this person?