This could save you money in the long run, but requires a bigger initial investment.To help you decide, consider these:What's your current budget?

When all the dust settles, and the  person searching is tired and discouraged and gives up, Jerry may not have bought  a single lot, but he's made some money from the training he sold you, which was his main goal from the beginning!

Keep in mind the more you write off the less money you will show as you net.If you have (2) full years and depending on how the accountant files your taxes you will have a schedule C more than likely or another schedule that shows profit and loss.

How can you save MORE money, while living there? 

Learn the eviction procedure for your area, perhaps contact a lawyer in the field to help you with this one, and get the fraudster you're currently housing out on the sidewalk to sleep in a cardboard box where they belong.You're going to lose plenty of money here, but this will never happen to you again, and you can minimize your losses if you move as quickly as possible.

Because Airbnb only makes money when the guest books on Airbnb.Hence, they want the price to be cheapest on their platform, so people book on Airbnb instead of elsewhere, and want their properties to be able to compete with hotel prices (even after cleaning fee and service fees). 

We recently bought a property using a HELOC and rehabed it's then refinanced and got most of our money back out.

I would not go through that process, not worth the time and money.

Many details could affect whether you are entitled to this money back or not.

@Rafael Ramos All your goals contradict each other:(1) Cashflow: buy Class C & D properties2) Appreciation: buy Class A & B properties3) Low Crime: buy Class A & B properties4) Why would you want your investments to lose money to lower your taxes?