The investment amount might be capital in nature and will have some limitations. 

I've heard renting 3 bedrooms is a very crowded market so thats why im looking to do the smaller 1-2 bedroom options Im concerned about all the competitions and the somewhat transient nature of the city.

In other words, the only way to move forward is to share sensitive data before you can even speak to someone?  

Naturally, my wife wasn't a fan of our rental investments after that experience.

It's crucial to align this decision with the nature of your income sources and their respective tax treatments.

@Ryan RuncheyThe bookkeeping for this specific property will likely be difficult.This appears to be a househack as you purchased a personal residence but also have roommates to help with the rent.As a result, a portion of the expenses as they relate to the house are personal in nature and non-deductible.Items such as real estate taxes, mortgage interest, etc are all pro-rated.On-top of that you are doing the BRRRR which indicates that there is rehab involved.Portions of a rehab are currently deductible, capitalized or non-deductibleCurrently deductible - payment for an area of the home that is a tenant area.

Please keep in mind that "suspended passive losses" or losses that are generated that are passive by nature, will STAY passive losses, and CANNOT be used to offset active income.

A regular partition wall with insulation is not going to cut it for noise sensitive residents.

Naturally, she refused and the deal was dead.

Admittedly, finding direct comparables has been challenging due to the unique nature of our family's home, but these figures give us a good starting point.I've taken the proactive step of having a property manager conduct an inspection, and preliminary feedback suggests that the renovations required might be relatively minor, pending the final review from the contractor.