An idea we have is, I am burnt out from W2 life, and wife makes great money (+$300k) , and I could take the year to repair/renovate, manage, rent, repeat the units in the MF qualifying for REPS status (50%, 750hrs, material participation, etc). 

Alternative OptionsIf a straight price cut doesn’t feel right, consider creative financing.

An alternative could also be to have them pay a higher deposit.

"We are sorry that we cannot continue this insurnace therefore your policy will not be renewed...Material increase in hazard as evidenced by the fact that the residence is not owner occupied as required by our policy".

I am wondering if anyone would recommend any real estate investing courses, podcasts, books, or any other educational material that has helped them in their own career? 

Alternatively, you can own the rental directly, take the income directly and simplify your life, taxes and everything.

Compared to pre-TCJA rules, there is no material change in the tax treatment of a building involved in a like-kind exchange, where a cost segregation study has been performed.

A tenant may only be evicted on this basis if the property is being demolished or if renovations will a) substantially modify or replace a structural, plumbing, electrical, or mechanical system, and require permits, or b) remove unsafe materials, such as lead paint, mold, or asbestos, from the unit.

The only thing is if the MFR is purchased with this, but not for the business then you may not be able to consider it in this loan so you may still need an alternate option there.

Simplify as many standard processes such as online rent payment, leases, apartment turns, paint, and other materials, and re-key all locks to a master system.