Not only would you benefit from having a partner's input on the deal, but you would also have an experienced individual to work alongside with as you navigate the project.It's also important to make sure you have identified your "team" ie; contractors / realtors / lenders / insurance agents / title company / etc. 

This is where a sale may benefit you long-term if you can find an investor to take it before the increased rate and pending rent decreases impact the value of the property further.

@Allan Smith We've seen SFH properties with a purchase price as low as $150,000 benefit from a cost segregation study.

Hi Edward, I agree that investing in the out of state market may be a better idea in terms benefiting from potential cash flow at a more reasonable price. 

@Christine Aledam LLC doesn't give any extra tax benefit for now.

Quote from @Melanie Baldridge: Did you know that Limited partners or real estate investors can absolutely benefit from depreciation?

Let time do it's thing over 5-10 years, you can take advantage of the tax benefits in the meantime then 1031 exchange into lower cost, higher yielding markets to achieve those goals.Great thing abotu real estate is if you have the capital you have options and options are always good.

Due to the income earned in the landlord account that goes to the benefit of the client, you should cut the check directly from the account through the bank and do as the law says, hand-deliver or certified mail.

Take short-term rentals - they do provide several tax benefits, but they are hard to run and very hard to succeed at so people make the mistake of choosing the tax vehicle, get the benefit, and then lose money on the investment and hate it.

However, only those classified as "real estate professionals" (REPs) benefit fully from these deductions, which are usually limited to those who spend more than 750 hours per year or half of their work time in real estate.