My PA lease has specific clause on the second matter of your question. 

Check Furnished Finder, Zillow, as well as AirBnb and VRBO (30+ day stays) to see what sort of competition is in that specific market.

Hey @Anthony Sigala many folks might be optimistic about this rule but the "rule" was created during a very specific and particular time in real estate as a way to help newer investors have a framework on how to approach rental properties without going in blind.

I have all kinds of specific searches set up for my investor clients to help find the best deals. 

Figure you are paying $6K in insurance for 5 years (assuming it doesn't go up) plus whatever the deductible is...is it better to save that money and should you need a new roof, pay for it yourself? 

Feel free to ask any more specific questions you have—there’s definitely a learning curve, but it can be a great tool in the right market and for the right property.Hope this helps, and welcome again!

However, you have to invest in specific communities where they are encouraging development.

They are mocking these up with interest only loans and factoring back in the tax deduction as if you qualified for the tax benefits of a real estate professional and factoring in the diminished first year property tax (since its not a full year).

While the forums here may be helpful, those forums are private and specifically for LPs of any syndication deal, that niche group may have more expertise for you in this situation. 

Adding details and specifics can help get to the answer or direction you're looking for.