The essence of a depreciation deduction is the theory that real estate improvements will decrease in value if you hold them for a long period of time. You can write off part of that decrease every year. The essence of a flip is to get in and get out quickly. The two theories do not really belong in the same boat. You normally will have no opportunity to use any depreciation deductions, and might not even be allowed to do so, even if you have the opportunity under IRS rules. If you have any questions about your particular circumstances, you should discuss them with a tax professional who knows your property, your overall tax picture, and your particular goals.