Sec. 1.167(a)-(11)(e)(1)(i) provides that property is considered to be placed in service when it is “first placed in a condition or state of readiness and availability for a specifically assigned function” (emphasis added).

We try to do a walk-through with the new tenant at some point to show them emergency shut off locations, instructions on filter changes, etc. so I wouldn't recommend just dropping keys off and that's it, but I have had probably 2 or 3 tenants over the years that I never met, just talked to by e-mail or text.  

Just need to find a property that has large enough of a lot to fit the added unit.Design / permitting / AHJI think I will budget a year for design and permits / SDG&E coordination / city water etc.

Do you perhaps know where the checkbox for passive vs nonpassive is on Schedule E?

Or best action steps.1206 Bishop $82k / Release Price $79,8001710 Collins $89k / Release Price $78,9601215 Bishop $89k / Release Price $79,8001217 Bishop $99k / Release Price $131, 8802409 Pennsylvania $99k / Release Price $100,800604 E 1 st. $85k / Payoff $45,000

If 10% per your example, maybe not since doing nothing would get me close to 4%.d/e.  

Overall, he seems to want to do a basic cost seg for me on the FF&E and Capital Improvements and leave the original basis of the property on the conventional depreciation schedule.I would love some feedback, personal experience, thoughts on this matter.

On old houses, we always recommend upgrading plumbing (#1 on the list as can cause most damage) electrical and heat systems (if needed). 

Quote from @Scott E.: Goal: Don't go bankrupt.Joking, kind of.

If could get the list as well!