If your hold period is short, it may not make sense to take bonus depreciation.BENEFIT - Clearly additional depreciation is the benefit, but only if you can use it. 

Additionally, his credit is not the best, and he has limited funds for a down payment.Any potential options or solutions that may be available?

I would appreciate any insights and additional things I may be missing.

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

Similar to the comments above on using FurnishedFinder, also check Airbnb and sort for 30+ day rental options. in addition, I'd recommend talking to the local university and hospitals nearby by calling to their various departments.

Does anyone know a property manager that supports small self-storage rentals in addition to residential rentals?

Keep existing and add an additional -~2000 sq feet 3.

These are professionals with additional training and a stricter code of ethics.

@Kenzer Hodgson For your STR, an umbrella policy can provide liability coverage, but an LLC offers additional asset protection by separating your personal and business assets, which can be valuable in case of lawsuits or audits.

These are professionals with additional training and a stricter code of ethics.