The idea is that a property "lasts" for 27.5 years(residential, commercial is different), and the IRS allows you to deduct the value of the additions(so not including land) over that lifespan of the property.In reality, we all know that property doesn't expire in 27.5 years, but that's another topic entirely.What Jason means about the difference between the deduction and credit is a common confusion.

I really appreciate the thorough responses, reality check, and sounding board.

And I notice that my taxes in one particular county are pretty high.the reality is that its not just the taxes it is the solid waste bill.which is really a garbage or sanitation tax.it breaks down to approximately 100.00 a month for the house since it is a duplex.  

Talk about the reality of the marketplace and building rapport before your micro contract details.I do this framework:1. build Rapport2.

When I keep reading this part of the lease I *think* in reality (correct me if I am wrong)....that I don't HAVE to accept rent late past the 1st if I don't want to but I just don't charge/collect a late fee prior to the 5th.I can REFUSE rent if I so chose?

This year I am committed to make this a reality.

Because of that, when I submitted my offer, I pointed out that my offer was in reality $XXXX more than the submitted offer because there was not a buyers agent commission.  

I heard of the possibility of exchanging into a commercial property"People hear lots of things but until they talk to investor/commercial brokers who are active in the markets daily they do not know what the realities are.

Love living in San Diego but want to live near the coast and realize that you need to have some hefty ambition to make that a sustainable reality.  

But, that's it - they "pencil", but in reality, in terms of IRR - they loose over the hold period.