STR. it's so property specific.

That guideline is lender specific, so I would suggest shopping it around. 

The ADU hurdles are jurisdiction specific.  

I wrote an entire post on this topic specifically that you can find HERE. 

Specifically, here in Chicago, the Residential Landlord Tenant Ordinance (RLTO) explains that owners are not required to relocate tenants for cosmetic issues, unless the work significantly impacts habitability, as expressed above. 

If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.

Specifically in SC, though, I would check two things - 1) see if the ATI exemption applies and actually quote the taxes for that particular property on the county tax estimator tool, and 2) get a ballpark quote from your insurance partner on the particular property.

We begin to work with the future tenant and made specific updates and changes to suit this tenant.

@Bruce Woodruff is in the general area and is very knowledgeable if you have some specific questions about south of Sedona areas.

If you hold the investment for a specific period, you may even eliminate the taxes altogether.Economic Growth:Investing in low-income areas undergoing gentrification can yield excellent returns.