It's not really optional, you essentially have to claim it, and this is another item where you have to be sure to correctly enter the past depreciation amounts from the previous tax return.  

I wanted to create options for my family.

There are a lot of factors to consider, from finding the right property to managing tenants.That's why buying new construction as a rental investment is the best option for out-of-state investors.

Hey Max, you should have plenty of options to use the funds from your home, the All in One loan may actually have the most benefits and flexibility for you. 

David,You do have the option of establishing self-directed IRA and transferring funds from your existing retirement account.

I am looking at options in the near future to take the house my parents currently own off their hands as they will be moving to a new state in the next couple of months.

There are VERY few options below 600 but it might be worth a call if you are in a half way decent equity position.

As a borrower who has already maxed out the number of conventional loans allowed, I am thrilled to have another option for borrowing on investment properties.

Hey Monir, when looking for that high cash-flow through section-8 I think Cincinnati, OH is a good option to look into.

Challenges and benefits of each option.