Starting 2015, do I depreciate the $165,000 for the remaining 21.5yrs of the original recovery period, or do I start new at 27.5 yrs again?

You want to talk about a totally bummed out newbie investor guy lost 150k with no hope of recovery.

Bought at the height of the CO recovery in 2005, probably could sell it for a bit more than the loan, but not making any $$ off it.

Do you know what the recovery has been for A&P market declines?  

While all I really care about is cash flow its nice to know I can sell one if I need cash. 10 years with no recovery of the original sales price is scary.I understand the last crash will probably not be a normal occurrence, but 1,000's of people in Miami were way over leveraged and lost everything.

May be eligible for 100% bonus depreciation if the recovery period is less than 20 years.

To me it makes sense, hardest hit means more room for recovery.

@Gilbert Ross Jr Joint Ventures work well in the note business particularly with qualified money (IRA's, 401k's) You may also want to check out Marc Gold with American Home Recovery Fund, their group offers note financing.

At any rate, I rode the property down to the bottom of the market and to a very minor recovery. 

They are widely known for their outstanding athletics programs which draws national attention at times.