Keep in mind that BP Pro members will get 15% off the subscription price and $100 in in-app wallet credits for paid plans, as Jenell mentioned.

Purchasing a STR in a somewhat sketch area is a terrible idea and as others have mentioned, is going to open you up to potential issues. 

Like I mentioned, Decatur is one of those areas.

Lets say you needed $100k in financing at 12% + 2 points and it took you a year to rehab and refinance that is an extra $14k + closing costs.2. you mention roof is 18-20k.

as other post mentioned, it appears that its personal property and not real property and taking it over like someone would take over a car. 

But the programs you mentioned are designed for what you are after.

As to the buddy I mentioned in Washington state it was the same scenario; he converted tax-free up to their standard deduction but above that he kept within the lowest tax bracket and paid the smallest amount of tax possible.Thank you @Basit Siddiqi for calling me out on this and giving me a chance to address my mistake; it's important people have the correct information.  

I’m excited about the opportunities ahead and can’t wait to connect with fellow investors.

Any information would be appreciate, I can't wait to become a part of this community!

Maryland’s DLLR site you mentioned is definitely a step in the right direction.