I was actually on a team dispatched to investigate the Surfside Condo collapse until the clean up process basically rendered our investigation moot. 

Go into the new member introductions forum and watch for the same few people who say the same basic message every time someone new comes on the site.

I am married with 2 kids.

LTRs basically do not cash flow at current prices with conventional rates. 

It's basically set up for MTR and much less hassle, but less vetting, and way lower cost.

I wrote a long post about the basics of depreciation if you want to understand it better:https://www.biggerpockets.com/forums/51/topics/1121063-expla...2.

They may ask for a basic LOE but that's if they are really nit picky. 

Also, have you made any significant alterations to the property or if it were put on the market today, would it be indistinguishable from a standard 4-bedoom house (are there any extra walls for the SRO, constructed locks/barriers etc.)If its a standard SFR and the leases are very short term - there is a path that you could refinance this with a DSCR as basically a Short Term Rental and then potentially change strategic course back to SRO if needed at a later date

As soon as I read "hired a property management company to handle the day-to-day" it was clear to me and anyone else with a basic understanding of the rules that he was likely SOL.

Sorry Mike I was being 100% sarcastic on my post and was kidding.