@Pretty Khare As Ruben and John mentioned above, you can utilize a cost segregation study on your STR property to reduce taxable income (or create a taxable loss) to offset against your W2 income, but you need to ensure you are following the IRS guidelines very carefully.

For example, temporarily stopping utilities to their unit during a repair or if there will be loud noise or a major renovation on the premises. 

1 - There are no sitelink extensions, which could give your ad more "visibility real estate" and better reflect your business.2 - There’s no phone extension, allowing visitors to tap and call you directly (which, of course, will be tracked in the Google dashboard).3 - There’s no Call to Action.

Please provide a forwarding address prior to moving out, and be sure to cancel/transfer any utilities out of your name by the move out date.

Or buy a fixer upper and work on renovating (valuable learning experience if damage not too extensive) during college years then sell and keep up to $250,000 tax free profit as your primary residence allows.

Utilizing this strategy with FHA or Conventional loan products.Although sometimes the 4 units can be hard to find sometimes you can compromise and find maybe a 2 unit or 3 unit with 4 units.

After getting a good amount of equity in the house for future HELOC funding, I was going to move out of it and use the property as a rental utilizing a lease option, or, rent to own agreement. 

We have extensive equity available (over 400K) and extensive savings to get the project moving.

Unique features like land and outdoor amenities can add value, and utilities can increase rent.

And FYI- if you're going to utilize an Engineer, they may not be comfortable being responsible for the entire house.