Thanks for the info. The is my first dip into the landlord game.
Just so you know, there is a different way to play the game and snooker the tax man, but it is drastic.
On your death, your heirs get a step-up in basis to the appraised value at the time of your death. Capital gains are wiped out.
Depending on your thinking, this could mean nothing to you, or you could see it as the basis for generational wealth. Rentals make a lot of sense for retirement investments since the income is inflation-protected. DW and I will pass our rentals to our children who will then benefit from the step-up in basis.