Let's say below is my yearly depreciation2021: -$10,0002022: -$10,0002023: -$10,000As I had no other passive income I couldn't take the depreciation, but in 2024 if I have a passive income can I take the depreciation from all the previous years or only the past year?

@Rose Ganoryou're not missing anything.  3-5 years gets you started.  10-20 years starts to get you a real portfolio that can start replacing W2 income.

I'm anxious about making any financial mistakes that will cause me to be in hot water with the government since I am not sure how to report income from an investment property. 

Passive income here I come 

I intend to hold onto the property long term and yes I would be willing to live there if there was no income potential.

Use any CPA and treat it as normal income. 

I'm a passive investor with an SFR rental.  

It doesn't matter if not on your mortgage credit report, it shows on your income taxes. 

I have two questions. 1)I was reading an article that gave the following example:"John Doe has $200k of taxable income on his W2 and buys an $800k 6-unit property.

Yesterday my job was eliminated, so my main source of income is gone, however, I have $1,425/mo coming in from a condo that's paid off.