There are some serious housing perks with my new job offer: 1) $150K in a 0% interest forgivable loan for downpayment (10% forgiven each year 2) a special home loan program that is currently lending at an interest rate of 4.1%. 3) Can join a waitlist for on-campus faculty housing that is sold for at 50-75% of the fair market value consequently when you sell you are capped at how much you can sell for; waitlist for these homes is approximately 7-10 years and you can stay there until you die).

Any recommendations for tax professionals who specialize in Detroit properties?

You cannot offset nonpassive income with passive income unless you are REPS or you make less than $150k MAGI because there is a special $25k PAL allowance

Depending on the investment and your current knowledge, this can take from 2 to 20 hours of research.2, Spend $400 - $600 for 2 hours consultation with an attorney who specializes in real estate IN THE STATE that the underlying property is located in.3.

For the modifications, cities generally focus on safety and code compliance, but since you're considering structural changes like wall removal and garage conversions, obtaining permits is key.

Sub to needs special “handling” because if the selling party is a homeowner rather than investor they need to be aware of the following when they sell sub to1.

This months zip codes all produced an ROI of 7%! 

They had a discount code in the email newsletter, but I don't see the value add yet.

*I am not a CPA, tax professional or a lawyer*I cannot give legal advice, so all of my advice is illegal advice.As far as I know, section 469 of the tax code is what allows for the "STR loophole". 

You will want to pay special considerations to properties that investors own, as they are more likely to be willing and able cash buyers for your own home.