When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that land itself is not depreciable.

That sounds incredibly disgusting and undesirable. 

Otherwise you can simply sell shares of the LLC from one member to another, or to an outside party.One of the potential DOWN falls of the TIC is that the other members can NOT make a person sell or prevent them from selling to an undesired person.With all that said I AM thinking of a possible future TIC partnership.

Regular inspections help catch problems early and deter undesirable behavior. 

I wouldn't be on board with this strategy unless you are holding in an undesirable location.

People usually lose money in real estate for just a few reasons, 1) they overestimate what it should be able to sell for, 2) they underestimate the repair costs, 3) there is something just down right undesirable about the house or area, and 4) they didn't pay attention enough to the market itself (which is where a lot of people are struggling right now).I don't know your particular deal, but it may not have been a good deal.

That will lead to frequent turnovers every couple years that will cost us a lot of $ with make readies, on an undesirable class of people nobody wants to rent to.

I would be too far underwater and have to live in an apt in an undesirable area or do van life which are not conducive to my current job.

I've heard that with a license you have certain limitations that are undesirable, but I'm not sure.Do you have money to invest ($100,000 or more) or are you broke just starting out?

I have little inclination towards providing carpet given that I will not be present to ensure it is well maintained, though I believe that a setting of pure LVP with wet-area tile may be seen by tenants as 'cheap' which is in my opinion undesirable for obtaining and retracting high-quality tenants.