Bottom line is you have a deal that could reduce your monthly living expenses to $100/mo.

I began to track my hours and where those hours went.My understanding is that I can use the STR loophole to reduce my wife's taxable income.

Meaning, when it came time to actually sell the property, (for tax purposes) the cost basis of the property was reduced by the full depreciation amount, reducing the amount of capital loss (which could be used to offset more profitable investment).5.

You debt will reduce the amount you can borrow. 

What are your plans to reduce/eliminate these variance on the next build?

The whole point of BRRR is to reduce the amount of equity in each property so you can do more.

If your original, estimated ARV was higher than the appraised ARV, it may have reduced the amount of first draw you were quoted before we received the appraisal.

If I remember correctly potentially you can save on income taxes, but you can't use things like depreciation or accelerated deprecation to reduce the income. 

Certain lenders may reduce ltv for the added risk of it being non warrantable. 

So, if interest rates are a buyer’s primary roadblock, then I recommend seeking opportunities to negotiate a reduced interest rate from a seller or looking at new construction, where builders are offering rate reductions and other substantial incentives.What if I’m a seller?