Quote: I am saying what good does it do you as property owner, to let your units set empty unless you get a tax break and make more keeping them empty.
Of course they get a tax break. One of the big scams in the tax code - and one you can bet your ass that a scumbag like the WLB will not abolish - is the depreciation scam.
So let's say your friend buys the property in question. He gets to spread the purchase price plus fees and expenses over the useful life and the deduction begins the day he puts it into service. (Meaning when he starts renting it out.) Now here's the scam. The property in question could well have been fully depreciated by the original owner or every owner in the interim but the new owner gets to "depreciate" it again. In case you haven't figured it out by now, we pay for these rich motherfuckers' tax breaks.
