@Michael Plaks has a great post on this topic.2 - Assess the value of those tax deductions to you: The value of a deduction depends on (a) whether you're actually able to use it to reduce taxable income and (b) your marginal tax rate.As an STR, assuming the average rental period is 7 days or less, key items to consider are: (a) material participation and (b) avoidance of "excessive" personal use.

Costs of materials can fluctuate, so there are expenses that will be estimated. 2. structure a payment schedule that depends on certain parts of the project being completed.

There was a fire escape staircase for the upstairs unit that was made with wood( not metal that was about to fall apart.

I was able to negotiate a package that included the land, some of the materials, and the permits to build it.

This is more of an equity play, and if you're going to live in it, then that is a material benefit as well, along with the cost seg benefits.Always think of your exit strategy when analyzing a deal.

Bought a used stove recently bc the tenant's kid kept breaking the plastic handle on hers and the metal handle ones are way more expensive. 

I do understand that most people do not think that way, But as I said, I have had people make remarks like that to me Like any trade, to do it properly and thiroughly, you have to have the right tools and cleaning products, and you have to have knowleedge, so not to ruin the materials used for tubs, etc.

There is one electric pole connected to both a metal building and a manufactured house.

We do the whole place in the same material (these are all apartments) and people love it, just like if someone put hardwood through the whole house. 

I would put some in passive syndications with responsible sponsors that I trust, I would invest some in the stock market, precious metals and bitcoin.