Failure to meet material participation rules will limit rental losses to offsetting passive income or carrying forward.This post does not create a CPA-Client relationship.

Quote from @Dalton Dillon: Thanks for your response @Joe Villeneuve Possibly my question could be more specific but maybe instead of a response like that, you could ask questions to help narrow down an answer?

Unless you still want to buy the property, the seller is in breech for not closing because you are full ready to close but they haven't or refused to sign anything.In NC if the seller breaches, the buyer can sue for specific performance.

We did consider/evaluate that option, and have done multiple flips, but at those points have been under contract since New Year's Eve and carrying costs for another 2-3 months without a guaranteed sale is not the risk we want to assume.

This may be expensive and not worth it but having it legally split, may also increase value. 

Thank you,But how do I find people I can trust and won’t take advantage of my age?

STRs and MTRs have higher cash flow than LTRs but they require more work. 

Typically, it's 6 months, but some banks want a year (more so with commercial).

Yes, property taxes are higher for investors but not terrible. 

I’d like to discuss it with a realtor, but I’m worried that if I disclose the deal, the realtor could bid against me on the property.