Once the study is complete, working with a real estate tax accountant will help you figure out the best way to use that information and ensure you’re maximizing your deductions in a way that fits your overall situation. 

I’m a bit confused and quite frankly frustrated, as to what policy will best fit this situation.

Next is to explore what strategy (long-term rental, short-term rental, mid-term rental, fix and flips, syndication, etc...) fits your investing goals and then your location.

Realtor says another deal fell through because it didn't fit their needs for an event location.We'd be coming in with 20% and look at about $10k in initial improvements. 

That will help you move forward in the path that best fits your needs and not waste your time pursuing strategies that sound great, but not work for you.

@Freeman Schultz I typically buy what fits in the space first and then the unit that is on sale and has the best value after that.

Having a robust system in place to vet tenants for the right fit is key to long term success. 

He could not get into copper lines due to smaller fittings, but said if cast iron was bad likely copper bad too.Here are his videos:video 1video 2Wholesaler got a plumber that says he is able to get into copper portion and looks fine and he believes we only need to replace a portion at substantially less.

I always marvel at the fit and finish of wood molding on Old homes, particularly stain grade where there was no caulk used to fill in gaps.

With some of your concerns I'm wondering if they are a good fit for you and if you're feeling comfortable, or if self-managing would be a better option.