Depreciation is required not an option and you cannot take the 179 or bonus depreciation on a piece of real estate and you don't depreciate land. This is how the principal portion of the mortgage payment is accounted for legally on a tax return. The fact that you will or do pay off the loan faster than you take depreciation is immaterial.
And the depreciation recapture happens when you eventually sell the home and not on the date of conversion to personal use. May I suggest you seek local professional guidance so you make the right decision for you... at your estimated income level you can afford to get educated. Of course who knows what the congress and president will do in the future ... all you can use to plan is the current laws.
