Do most have a 3Br and an office or bonus room?

@Justin B.Lol the fact that they don't have $2k in savings is the bigger issue here.And can you just charge them double 1st month rent and they get a bonus for returning the unit back the same as they got it?!

In the context of appreciation, loan payoff, etc... coc roi becomes less relevant, but for a conservative investor I tend to focus on cash on cash ROI and the rest is an extra bonus.

The mortgage paydown and appreciation is an added bonus but I dont count on it, because even though its raising my net worth, I can use it to buy groceries. 

I would recommend this approach if you are planning on tearing it down and building something new because the appraisal may require the land to be surveyed so you get that bonus. 

How / what you can apply 179 or bonus depreciation on differThere is potential self employment tax if you offer substantial services. 

If I reinvest some of the above in another property and they do cost seg, bonus depreciation will make much of my cap gain disappear, lowering my taxes today. 

Base pay $51,300 + potential monthly bonus.

In that case you can also take bonus depreciation and accelerate 100% of those costs into the first year, further decreasing your tax liability.

Bonus points if you are a contractor on Oahu, HI or the Tampa, Florida area.