An idea we have is, I am burnt out from W2 life, and wife makes great money (+$300k) , and I could take the year to repair/renovate, manage, rent, repeat the units in the MF qualifying for REPS status (50%, 750hrs, material participation, etc). 

I was told from a rep that if I could get someone to sign a lease agreement for about $3,200 - $3,600 per unit, I would qualify. 

However you are not getting REPS because of STR.

Again, even with REPS.

You should work with an accountant who understands cost segregations and REPS.

NETWORK, but again, cash as is close in 10 days, that gets you a good rep Good luck 

Do you have a rep you recommend there?

There will be a final walk through next week and I have informed my real estate agent (who is also the builder’s rep) about the door.

@Michael BuskaSTR tax benefits are not related to the REP status.

Inspection rep facetimed me saying hey this is a mess, inspection should NOT have been today, there's leaks everywhere, nothing is ready, etc.  .....I had to pay for the 2nd Inspection2) New build wasn't supposed to have tenants, on the day of 2nd inspection 2 weeks ago, again I get a call from the Inspection rep that there were people living on both sides.