You can explore bedroom rental also as opposed to the entire unit with 1 party but that is more complicated for management.

. :) It's a decentralized system that allows instructors to develop their own materials and teach.

Duplexes cash flow better, have less risk, AND EASIER TO MANAGE compared to a SFH.  

If a dishwasher is 15 years old and the tenant destroys it, you can't really charge them much because the appliance is beyond the life expectancy.To learn how to determine charges for cleaning and repairs, you can read my book in my signature, Brandon Turner's Managing Rental Properties, or NOLO's Every Landlord's Legal Guide.

Self-Employment Opportunities: Would it make sense to start a side business related to my rental properties (such as property management) to access more deductions?

-Interest-only payments, which help manage cash flow during the renovation.

We negotiated a deal with the owner for 20% Equity, we are responsible for infilling the community as well as property management (which we also get paid separately for).

I stared using this site PropJump.com to find services providers for my 3 properties I own and manage. 

Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.

Do you have experience managing renovations if needed?