You don't mention the market, but even in a good cash-flowing market $500/unit not not easy to find especially when fully leveraged at today's rates and also trying to borrow down payments.

Maybe, maybe notYou have to weight the pros / cons along with the risks.Your BP mentions you are 'new to real estate'.You are getting into a new asset class along with a business(I consider a STR more of a business than an investment).How much will you save in taxes?

If the new property has less of either asset class (1245 or 1250) then the difference is subject to tax at the rates mentioned above. 

This all comes down to how you're structured, how the flip cost were accounted for, if there is a partner (you mentioned "we").If it is an S Corporation and you "distribute" or "sell" the property to yourself, if there is any loss on value, which probably there isn't, know it most likely won't be deductible if it's a related party transaction.  

@Elias RamirezMail a letter to the property as well - must be getting forwardedBut as mentioned tax bills are being sent somewhere.

Holding one month SD as someone mentioned is sorry but absurd. 99% of the time they do not leave on time.

I oddly enough started with Rich Dad, Poor Dad, and then went on to three more books from Bigger Pockets publishing who all mentioned that book.

In the ad creative, you can mention that you're able to buy houses in foreclosure without signaling that you're a specialist in foreclosure-related issues, if that makes sense.

Hey Account Closed,I’ll check out the areas you mentioned!

No one mentioned this as a factor, but I assume this would severely limit/prevent me from deducting anything other than depreciation?