@Jane DangThe short answer is: 27.5 yr depreciation.The long answer is: the line you are asking about, the one between repairs and improvements, does not exist.

But people are buying these to live in long term so they never look at it that way.. 

Those sounds like good terms.

Universities, flight schools, HR departments for corporate housing, military bases, etc... the list is actually pretty long. 

Another part of the problem is the landlords themselves; the landlords buy low income housing for cash flow, and if the property needs repairs, maintenance, capital improvements, they’re reluctant to “upset” their expected cash flow by investing in the property.  

We cash flow $250 per unit per month after financing which for us is about $250 a month on a 7 year term and after repairs/non payment /vacancy.

Indianapolis/ Central Indiana Investors- do you prefer to invest in fix and flip properties or buy and hold for rental cash flow and longterm appreciation? 

New Market Dynamics and Competitive Pricing: With more competition around commission rates, investors might benefit from lower transaction costs in the long term.

From what I understand, banks tend to avoid financing properties with SRO units due to the perceived higher risk (inconsistent cash flow, transient tenants, zoning issues, etc.).

-Possible long term lease of 3-5 years.