The property sat on the market for a month before an offer came in, but the buyer backed out at closing.

If the extent of your real estate business is renting out your basement than no, a Wyoming trust is not necessary (in fact, a Wyoming trust is not necessary for 99.9% of real estate owners)....you were contacted by a fear mongering sales person, not someone I would consider to be offering credible services. 

It all comes down to running the numbers based on today’s market, not past assumptions.

Don't change jobs or income yet.Once you do and you think you can manage the payments based on your new income, maybe once you get the rooms rented.Then if you want to switch there are plenty of opportunities. 

I am located in Arizona and have been in manufacturing for 20+ years while my brother is an experienced contractor based in California. 

You could do events and offer onsite chef availability for large parties. 

Quote from @Christian Styles: Hey Sam, I've used both Propwire and Propstream, they seem quite similar but propwire has a free base version and propstream does not.

It was a deal that was offered to me directly by the owners using owner financing and i took it!

I love that the MHDC loans are offering 0% down payment options for duplexes, I would look into that if you havent already.

But this is definitely a CPA question because the IRS rules are based on your AGI and phase out if your AGI is over $100k.