If you sell it, you get $250k single / $500k married exemptions from capital gains.Speak with a tax professional about how much you'll save in taxes by doing this. 

Since rental losses are typically passive, the best way to offset W-2 income is through Real Estate Professional Status (REPS) (750+ hours) or Short-Term Rentals (STRs) (100+ hours and more time than anyone else managing the property), which allow real estate losses, including depreciation, to offset active income.A cost segregation study accelerates depreciation, generating large upfront deductions.

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

Whether it applies or not it's always a good idea to check with a professional first so thanks for the reply.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Errors & Omissions (E&O) insurance isn’t legally required but is essential to cover claims of professional negligence.In Maryland, the requirements are similar.

In the long run, I want to build a portfolio that will bring in cash flow.Would be great to connect with all types of professionals who work in the area.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

They want to be full service RE professionals.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?