Simply regrouting will have another crack show up in a year.

While it will not reduce the actual cost it will help with the monthly cash flow.I am curious if this was a single-family house converted into a double.

Your plan works as long as cash flow remains strong and refinancing remains accessible—but are you confident that will always be the case?

Also what are solid reasons/hardships I can list in my rezoning request that will get it approved?

HOA will eat up a lot of your money. 

If you don't have appreciation capex will wipe out your cash flow. 

Hey Nicholas, Building your team will be crucial.

It will teach you so much, has the best financing options, least amount of risk, and will let you know if you want to be in this business or not. 

Is it doable - yes but you will need to go to a lender who probably uses their own funds vs. an instituational lender as they will not like 2nd position nor the low amount.

Essentially, instead of being able to write it off immediately, it lowers the purchase price for tax purposes, meaning depreciation will be calculated on a slightly lower amount over time.