I just acquired it and would like to report this property on Schedule C to deduct the loss of first year operations and expenses against my other Sch C business(es) and my husband's W2.

You mean folks who sue for cold calling them b/c they're on the DNC list?

(c) BIFERCATE expenses.     

I invest in SFR in C+ class areas.

In a 506(b) deal you are allowed to bring in up to 35 sophisticated investors that don't meet the accredited standard, and almost as many as you want accredited investors.  506(c) you can market offering, and need to take reasonable steps to verify they are indeed accredited.Reg A(+) you can market and raise from non-accredited, but more regulatory filings.I think there are a lot more accredited investors than you think.  

How much is the average turn key single family home/duplex in Jackson, MS C+/B- areas?

We just sold 3 locations in a C market. 

Typically it is still hard to have it covered without a roommate if its not in a C class area, but it is possible @Chris Schoonhoven

Electrical repair and permit must be done by a C-10 electrical contractor.Violation 6: Modification W/O PermitsNarrative: Please obtain permit for a fire rehab permit.

That was until it was time for her to move, I had decided to sell b/c the market was in my favor.