I NEED clients, and the professionals that work with them.  Accountants, lawyers, insurance agents, and financial planners are the people that tell us what we need to know. 

There are several ways that investment property should make money for you every year.  Cash flow, appreciation, and depreciation allow you to add to your net worth every year.  Cash flow should pay all expenses and overhead plus give you a 5% or more return on your investment every year.  Rent obsolescence is when you can no longer raise the rents to keep up with increasing costs of insurance, property taxes, etc.  Appreciation should mean that the property is worth more every year.  When appreciation is less than the rate of inflation you actually have less net worth.  Depreciation allows a tax deduction that lowers your taxes every year till the property is fully depreciated.  After about ten years you will be getting about 50% less of a tax benefit than if the tax basis of the property were current. 

The professionals like your accountant will recognize the propensity for these events to occur.  I can recommend a professional to review your situation if needed.  Refinancing might allow you to update the tax basis of the property.  The IRS Rule 1031 would allow you to defer capital gains, vacate a neighborhood in atrophy, reinvest in an area on the rise, and increase the depreciation deduction.