Have plenty of reserve cash saved up in case you need to bonus your trades to do your job next. 

This could allow you to take advantage of bonus depreciation, which can significantly accelerate the depreciation deductions in the year you place the property into service

The landlord friendly laws are an added bonus.

As an added bonus, doing all of this well can often land you on the "vendor list" of a company, putting your contact number as the first call to make when placing the next crew passing through.I apologize for the long-winded reply as you probably know and understand all of this, but there might be a reader that doesn't. 

curious if you've played around with this.

I think that would fly legally.not the smartest for your relatives.. but do check it out.. its when you have multiple bene's on one mortgage trust deed that Securities comes into play..

They were all long plays. 

I would imagine operating in NYC right now is essentially playing with fire.

.• Bonus depreciation is winding down, as many of us know.

But if you do renovation after you move out of the primary residence, you might be able to take benefit of bonus depreciation or sec 179(if qualified).