There are definitely pros and cons to all situations, you would just need decide what is best for you.Would listing it as a mid-term (traveling nurses, doctors, business professionals, contractors, etc) or a short term rental be an option? 

Since I make well more then my daughter, the plan was for me to claim the house for any tax breaks.Question is, will we need a more specialized tax professional then the HR Block person I've been using for 20 years.

Readers should seek professional advice.

.- Any potential pitfalls to watch out for during this process.If anyone has navigated a similar setup or has referrals to professionals who can help, I would be extremely grateful for your input!

This way I'm semi-retired working my own hours and enjoying the tax benefits of a RE professional.

See if you can get a certified fire alarm professional to be an intermediary for you and the fire marshall.

Would like to hear from any investors that have been in this type of situation.Hey Arron, these are the questions where you should be able to dial up your realtor and ask him/her and get a professional response with a plan of action..

A contractor is a licensed professional .

A solid financial backing demonstrates reliability, making sellers more likely to accept offers from these investors over others.As fix-and-flip investors build a reputation for professionalism and success, they can expand their operations and take on more significant projects.

As you progress on your investment journey you will find professional management companies like mine that can manage your properties while you are living anywhere in the world.