Depends on their health and any desire they may have to simplify.

Columbus has the largest company in the state, Cardinal Health. 

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

She’s currently not paying rent, and while she has some health issues and no stable income, she’s been communicative and open to general talks, with a possible option to vacate through a cash-for-keys arrangement, though this might take around six weeks and some hard work.I plan to rehab the property and eventually rent it out, potentially to a Section 8 tenant.

Thanks Brittany, I am ok with the risk mostly because of a health back up income.

I don't know how many BP members in active status down here near Northfield or further south but I would be interested in meeting them as well.

Professional Status: Could you qualify as a Real Estate Professional?

Just make sure your personal use doesn’t exceed 14 days, or 10% of the rental days, to maintain its rental status for tax purposes. 

My research tells me that once I qualify as a REP with the material hours spent on the STR, I can use that status to deduct depreciation from my LTRs as well by using a regrouping election on my tax return.

However, we need to be clear that with a subject to transaction the debt is secured by the property; most often personal liability via a guarantee rests and remains with the seller/original borrower, the property buyer has no responsibility for the debt and no personal liability UNLESS he modified this status by contract agreement with the seller; in which case he may be liable to the seller only.