Depreciation, like most deferred retirement plans, postpones taxes, it doesn’t eliminate them, unless you never sell the property, or keep “exchanging it” , usually on less favorable terms and with large third party fees.

Since it is on a different platform I don't want to cause a stir on BP, so PM me if you would like more info and details on where to easily find these events.

Looking for something that I can easily grant other users access to on prem things.Masterlock is one of the ones I'm looking at now http://www.masterlock.com/bluetooth

It's an interesting way to invest in real estate and supercharge your returns (30-100 percent) while eliminating most of the downside risk.  

@Dave Jimenez  I bought my first house in 1975.. so probably not germane to today.. and it was very straight forward.. we put 10% down  its was a 80k house in Milpitas CA.. got a 10% second from HML and a first for 80% it was new construction. there were no auctions then.. like you see today there were foreclosures though I bought my first one in 1976.If your using a FHA loan and first time homebuyer or there abouts its tough to buy auction proeprties. because they make it tough.. that's the point.You can easily buy one off of MLS and go through the normal hoops.. but I am sure your thinking you want to buy this because its such a screaming deal . and of course everyone wants that.. those deals primarly go to cash buyers.. unfortuanatly .. 5 to 6 years ago was different now there is just so much cash chasing deals its not funny.. so just trying to be a realist that's all.Look at some google on line about Vegas.. poor families trying to buy who just had to have financing got shut out.. because of cash investors.. and let me tell you the sellers banks and other lenders in possession could give a hoot.. they just want the cash.

BP Friends, I'm looking at a duplex (that can be converted to a triplex fairly easily).

Not to mention sometimes you think you only have a little trash, and it turns into a lot of trash.After a few projects, you've "dumped" $5K in profit easily. 

If it is in rough shape might go on the low end of that but there are definitely options that should easily net them a ton more money than that.I still say go for it but temper your expectations on how many of these you might actually get

@James DeRoestNew Equity can easily be created from buying property at discount, raising rents and making improvements.Principle payments is taking your cash and paying down debt.  

There are a number of direct mail companies that can help you get your direct mail out easily and efficiently.