Any pitfalls to watch out for with tax basis, depreciation, or gift/estate complications down the road? 

If you choose to use this technique these are some of the Pitfalls to watch out for.

This is a great question and a common situation for landlords and property managers.

And what pitfalls would you warn others to avoid?

Plaintiff's attorneys don't care who you are before filing a claim, particularly premises liabilty claims which are the most common.

They range from $2-$20k in scope commonly. 

This helps to get ahead of this common landlord-tenant point of tension

The housing market in Bali is very active, with yearly rental ROIs of 25-40% being quite common.

Some landlords also prepare a standard “tenant charge sheet” that outlines common fees (e.g., $150 for professional carpet cleaning, $25 for broken blinds) so tenants know what to expect upfront and so you have consistent pricing when evaluating damages.Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice.

Having rooftop decks are common and there are building codes in place to make them safe to use.