The advantage if needed by calling it an investment home is that you can use the potential income from the property to help your debt to income ratio where you cannot do this on a second home. 

The rental income at purchase was $8400/mo. 

But, once you do build some wealth and have a high income, you realize how much you can save/make by owning the right real estate - numbers that far exceed any cash flow you might make on a property. 

Essentially you are creating future tax free income by being able to roll over these losses.If your income is between $100,000 and $150,000, a portion of that $150 loss is deductible and the rest rolls forward.If your income is less than $100,000, your loss is fully deductible - and THAT's the cool thing about rental income. 

The benefit here is that I cannot get behind on taxes and if I fall on hard times and my buildings are empty, my rent payment is based on my income, so I guess that is attractive.

Then MAYBE you'll have enough income to lice off your rentals.Again, a more likely timeliine for this is around 10 years or more.Good luck!

It does bring in some income outside of season as it is close to AC but it certainly makes over 80% in 3 main months.

One idea is to proceed with the 1031x, save on the capital gains, parlay your proceeds into income-producing properties, and capitalize on the low-interest rate offered by these operators.   

I'm not looking to replace my w2 income with it.  

Since they are 1099 independent contractors, payroll taxes are not paid by the brokerage so agents have to pay about 20-30% out of the portion of the commission they get to Uncle Sam for income taxes, depending on their tax bracket and individual tax situation of course.