What Zach is saying here is that you won't be able to utilize the "STR Loophole" which refers to using any net loss from the STR business to offset any income from other sources like W2 income or 1099 business income.

W-2 income, but it’s subject to passive activity loss limitations.

You would need to factor in the cost of the conversion as that would likely create a loss, then we would need to know your depreciation schedule.

Most of the ones we won worked out ok, but one wreaked so badly of cat urine even after stripping out all the soft surfaces we cut our losses and sold it to a handyman unfinished who wanted to live in it and refinish it himself.  

The other Class C is a long story and I may share later after I recover from my financial trauma. 

The P/L is just that, it shows all profit, and loss (expenses.)

Focus on turning it around and getting it rented as quickly as possible to minimize losses.2.

However a recovering addict needs to take the lead if they are going to stay in recovery.

Buyer has ability to close, so it's a smaller loss to have the complete the purchase before the market gets worse. 

I have also purchased training from Attorneys and CPA focused on real estate.I also learned that Renatus is more like multi level marketing where you are then asked to sell this education to other people to recover your cost.