Assuming you don’t meet the 500 hour test, you will likely need to document the time of others spent working on your property.In addition, you need to have guests at your property as well.Until you are 100% sure you can utilize the short term rental loophole, I’d wait to do the cost segregation study.

There are a ton of illegal basement apartments all around Hudson County--maybe 10-15 years ago there was a program (at least in Union City) where many of these apartments were made legal, I think partly as a way for the city to generate revenue, and partly as a way for the city to have some oversight, since people were renting these apartments out regardless of their legality. 

When your tax professional prepares your 990t they will utilize the Cost Seg to minimize the UDFI tax. 

And just like the athletes a ton of it depends on where they were raised and did they just get ushered through collage because they were great at sports..

1) Don't fall into analysis paralysis, theres a ton of ways to invest in Real Estate, pick one and go.2) Take action.

I am putting it up on Facebook, Craigslist, etc. but is there anything else a newbie can utilize that you have found success with?

See when materials get delivered, etc.This last one is debatable but It works for me.Not utilizing rewards or cash back credit cards during renovation projects to maximize ROI.

Either way, you came to a great place to get a ton of information and to make connections.

@Jason Porto6-12 Months of Expenses: Many investors aim to have 6–12 months of property expenses (mortgage, insurance, utilities, and maintenance) saved. 

Since you said both units are rented, I'm assuming you are utilizing the LTR strategy?