Recessions and expansions are part of the normal (healthy) economic cycle.

It would definitely be an appreciation play, but I like the economics of new construction on Oahu. 

I think they have the best combination of good cash flow with strong economic and demographics like population growth and new jobs.

And that's setting aside the economic value of a good realtor as a negotiator. 

In this case hopefully you would have memorialized the economic arrangement between yourself and your partner with a TIC agreement.When multiple taxpayers each have a TIC interest in a property, each reports on their respective tax returns their pro rata (i.e., proportionate) share of the property's revenue and expenses depending on their percentage ownership of the property.If your economic arrangement between yourself and your partner is more complicated than the mere sharing of revenue and expenses based on your interest in the property such that your shared activities rise to the level of engaging in business together, then you may have a partnership for income tax purposes and would be required to file Form 1065 and related state filings, if applicable.Among other things, maintaining proper property books and records is essential to maintaining TIC status before the IRS.

Part of normal economic cycle. 9 years of bull run.

The top just like every other city across the nation due to US economic expansion period.

Then we'll provide some tips on rapid deconstruction and reconstruction to make this process economically viable.Can you or should you pull over for a pit stop in order to win the race in the long run?

There is no limitation on how much you can expense.1) The safe harbor applies to amounts paid during the tax year to acquire or produce what the regs call a “unit of property” (UOP), you must meet these requirements: (1) at the beginning of the tax year, the taxpayer has written accounting procedures treating as an expense for non-tax purposes amounts paid for property costing less than a specified dollar amount (which will be 2500 for you), or with an economic useful life of 12 months or less;.(2) the taxpayer treats the amount paid for the property as an expense on its books and records in accordance with its accounting procedures. ( do this on your bookkeeping software or whatever you utilize)(3) the amount paid for the UOP doesn't exceed $2,500. as substantiated by the invoice Note: The cost for the Unit of Property includes l additional costs (for example, delivery fees, installation services, or similar costs) if these additional costs are included on the same invoice with the tangible property.Eg:A purchases 100 printers at $500 each for a total cost of $500,000 as indicated by the invoice.

Again, if you can self manage that vastly changes the economics.