I would like to think i have a fairly well-rounded knowledge of real estate, but because I have't focused on any one section, I am far from an expert.

I'm not a CPA, but based on my experience with some of the things we've depreciated I'd imagine you'd be able to get away with it. 

Being that the inspection will be on a house that will be rehabbed they look mostly at high ticket items (roof, foundation, furnace, etc.) and don't spend so much time on the little stuff.  

Next, make your rounds to the big box complexes that cater to students.

I moved in to a place because I was desperate to get away from living with my girlfriend, plus the house was right by the beach. 

It really is like getting married... unless you each have clearly defined responsibilities so that everything which needs to be done is covered by someone, and then on top of that have a structure to buy one or more of the partners out of the deal in case things don't work out between you all.One of my favorite sources of properties is feuding partners who are willing to sell below market just get away from the others in the deal, don't become one of them ;)Good hunting-

I don't understand how they can get away with this?

(It's a little more than that but I'm rounding up.) 

Annual maintenance like furnaces water heaters etc...You should be putting away at least a hundred a month for those big tickets purchases.

What we try to do and can't seem to get away with is use the pretax figure because its naturally larger and works out better for us.