Is the backup to use it as an STR during these months?

They are knowledgable in their space, but I find them on the pricey side.

However, the next time I buy a house, if it's a buyer's market and I know the area I want to purchase well, I'll repeat this process if it's in a state with straightforward contracts.

Welcome to the Forums, Justin and Reba!

Any guidance would be most appreciated, so we can be better prepared for our tax returns next year.Thanks so much for your time !

However, they are merging with another company next month which does NOT have MLS-only memberships.

There is not the depth of what you're asking.

Quote from @Niranjan Sathish: Hello, I am Sathishkumar, have been learning about Real Estate through books and podcasts for the past couple of years. 

Researched the area , contacted local team through biggerpockets How did you finance this deal?

You can attend all the REIAs and read all the books and sign up for all the conferences, and spend all the money, and you are will never really know you can do it until you do.Over 20 years in real estate in various forms and roles, action will beat out intelligence or education or even network 100% of the time.