With that said, I am in the position where I will not need a monthly income from my rentals.

And DIY repairs are not recommended for other reasons: it will take you much longer to complete, depriving you of rental income, and you run a high risk of your wife becoming your ex-wife.Same risk exists if you push your wife into becoming a Realtor or some other real estate activity just for the sake of tax benefits.

Traditional IRA withdrawals are taxed as ordinary income, with a 10% penalty if under 59½, potentially pushing you into a higher tax bracket.

Your best advice would come, for a Tax Advisor NOT a Tax Preparer (CPA).

They mentioned they didn’t need any income.

STR-friendly markets make it easier to get started and grow your business, and the lack of state income tax is a huge perk.

Remember, if you decide to sell in a few years, any bonus depreciation comes back as ordinary income. 

We will both keep our W2 employment for the near future just looking into getting an extra income or make our retirement easier.

However, you can get loans that are based on the performance of the rental and not your personal income and debt.

Note - if you live in your property for 2 years out of the last 5, then you don’t pay taxes on the profit.