Personally, I prioritize land lord friendly states because this significantly reduces risks.

If you buy the right property you can even reduce the new COR rate if you apply some of the NOI cash flow to the higher rate payment each month.Similar to a Bi-weekly payment it reduces the years owed and the overall rate by accelerating the payoff.

Yes, asking for reduced payments, no interest, no payments, etc are great ways to make a deal cash flow much better...I have used...

Giving reduced rent to someone who will be enjoyable to live with while treating you and your space with respect is worth it.

So, it will reduce your net income and therefore your taxable income.

The rationale is that Airbnb provides host protections and guest verifications, thus reducing your risk and need to do your own background checks.

So if you have no other passive gains you will not be able to have a passive loss reduce your income.

Let's try reframing this @Eric Justice:Buying all-cash, reduces operational impact weight to a level that feels very stress and urgency free. 

The homes around you are A LOT cheaper (according to Zillow).You might have to bite the bullet and reduce it further if no extra cash to finish rehab, especially if the buyer thinks they're going to have added cost after close.

I consider myself getting that % of a discount, so I reduce expenses rather than get a passive cashflow.