(Doing this correctly, you’ll be able to get a deep tax deduction) 

They did their investigation and their conclusion was that I was correct in my allegations and they saddled him with only a $6,000 fine. 

If I remember correctly a couple of murders and maybe a couple of big trafficking cases.I think I would pick one of the smaller towns around Plano that might be more friendly or even embrace it.

If I recall correctly, both had long-term, seller-carried notes at fixed interest rates.

Correct.

With MTR, you are correct and the same rate as STR of 30% may be too high.

It appears TurboTax (downloaded version/Forms) doesn't have the capability to report an exchange of one residential rental for two residential rentals.I am entering this transaction myself through TurboTax, but I would appreciate feedback from the community on the correct forms that need to be filed.

I only see one person giving you the correct advice.Your focus should be on paying off the debt, controlling your finances, and building your credit.

Am I correct in this assumption?

I thought I’d reach out here to course correct myself by following what successful BP investors are doing.