A couple great co-living options is STR by the room, Student housing, sober living, Senior care... 

Unless you have heavy overhead and 1000+ LOs this is the most cost effective option 5.

The original post leaves the door open for a challenge by the IRS, so the safe harbor of holding it for investment for two full years is the safer option.  

Midwest cities with populations under 300,000 typically have cheap property taxes.

Offer aid and housing options if you're able -- don't try to profit. 

Once I get the homeowner to sign the assignment,  do you want to be the first option to review the numbers and possibly buy ?

If you’re looking for ways to make the numbers work, sometimes that means evaluating different markets, financing options, or property management strategies that help mitigate risks like vacancies and maintenance surprises.You’re not alone in feeling like 2025 could go in multiple directions, but one thing remains true—real estate continues to be one of the strongest vehicles for long-term wealth when approached the right way.

HUD targets average rents for an area, so just like average school grades, this typically translates to Class C property rents.In our Metro Detroit market, the MAJORITY of the claims about getting higher than market rents can be traced to a Class D Neighborhood/Property. 

So - with something like that in place, I would tell you that a property manager is highly overrated (perhaps the better way of saying it is "over-paid") for the amount of work that is typically needed in a month.

What’s your vision for your next property - do you see yourself leaning towards value-add projects, or are you focusing more on turnkey options?