@Troy Fisher hits the nail on the head about Seattle being difficult to work with.  

Pretty sure you are hitting the nail on the head.

Bill nailed it.

These guys nailed it above.

Driving the nails is only one side of a rehab holding costs down and getting theproperty to market on time.

Nail on the head.

·In rentals foreverD Properties-Worst Area of town·Built 40 years or more·Good Cashflow·Management Intensive·Not a good starting out property·Assisted housing, out of prison, hard luck etc.Grading Areas of the CityA Areas·Upper level society reside·High end Properties·Path of Progress·Construction tear down old build newB Areas·Blue collar workers live·Business in area serve needs, bowling alleys, Nail salons, pizza movie rentals etc.

In response to your initial question, J Scott "hit the nail", build the pro-forma and determine price.

I do believe a state agency can nail you on that approach if they decide to shorten their 4 hour coffee breaks.

You use that to offset your net income from the property and if the income is lower than that - it can offset other investment income, and eventually even 3,000 of your doctor income.You get nailed on this when you sell - because deprecation reduces you 'cost basis' - so your 'gain' gets bigger - even if you sell it for the same 1 million after 30 years, instead of having no gain, you have depreciated it down to zero, so you have a million dollar gain.