Sorry to burst your bubble, Mike, ain't so.As it stands right now, depreciation is not optional.Now, if you never sell but instead do 1031 exchanges and ultimately leave your properties to your heirs - then you avoid the recapture.

He lives in a reality distortion bubble.

The economy is stable—no wild bubbles or busts—and the city is attracting major investments.Elon Musk recently built the world’s largest supercomputer in South Memphis, Ford is investing $5 billion into a state-of-the-art truck plant to the east, and the Medical District is booming with healthcare innovation and development.

I'm in The Southbay beach cities just south of LAX, but often leave the bubble throughout LA County.

I will certainly being giving champagne bronze a try now too. 

But it’s a bubble and they are making a lot of changes in the laws to continue that bubble.

Glad to hear that you have actually done a partnership like this, or any partnership in fact, therefore you're qualified to share your opinion unlike some of us who have not done a partnership and should not be allowed to comment.Despite investing through through the tech bubble, Argentine currency crisis, the shale boom, through the GFC, through global markets, through polar vortex's, through the oil drop in 2014 with Russia, there's no way I could qualify to come up with a legitimate and qualified response to such a partnership. 

While we are not immune to market shifts, we typically don't see huge bubble bursts. 

And they failed during the housing bubble. 

I actually got caught up in the creative finance bubble of trying to lock up properties way over their value just because it had creative terms not realizing that if you were to buy a property at 120% of its value you will never be able to refi or sell without paying out of pocket.