I have two phones, one for business and one for personal.

To qualify for a loan, focus on having a credit score of at least 620 (or 580 for FHA loans), keeping your total monthly debt under 43% of your income, and saving enough for a down payment and closing costs—about 5-10% of the home's price in total.

Most likely trying to find a sucker to buy this and take over the costly legal battle they are entailed in.So next time someone is like "yeah just get a deed in lieu at closing", think twice about that.Actually, I use the deed in lieu.  

At that point, you’re building a business plan—something you can take to the bank.

In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

I would suggest you up your rate from 8% to 10% to help off-set some of that cost. 10% is doable all day long here in Texas.

I wondering if I can deduct any of the repair, closing cost and deprecation on taxes. 

The nice thing about the arbitrage business model, is the companies usually pay you a monthly rent, and then they handle all of the AirBNB stuff. 

However, our tenant turned out to be problematic—late payments, issues that led to an eviction, and additional repair costs before we could relist the property for sale.Now, after months of making mortgage payments out of pocket, we finally have an offer.

And maybe diversify a little, invest half in a low cost S&P500 fund like VOO and the split the rest across 2 or 3 syndications.