The Numbers:Cash Flow Analysis: Investors typically look for properties that will generate positive cash flow—meaning the income from rent covers the property’s expenses (mortgage, taxes, maintenance, etc.) and then some.

If you qualify for both (you've lived in the property long enough and it is used for investment when you sell it) then you get to take both.

Yes, you can deduct related expenses including gas, loan interest, insurance, etc. using the actual vehicle expenses method to deduct auto expenses for your rental or other businesses. 

Not free ones but not too expensive ones as well.. 

Albuquerque is already such a wonderful place to live and do business so I am all for anything that will make it even better.  

Those agents have their ego at the expense of the relationship, and there are such agents actively participating in this thread.

According to Realtor.com, EMD is typically between 1% and 2% of the total home price and is money you pay as a show of good faith when you make an offer on a house.But, it’s not an added expense.

This not only defers the taxes on the two rental properties but then once they live in the primary residence for at least 2 years that home now qualifies for the Section 121 exclusion on the gain.

I lived in a college town and student rentals did very well as did STRs for parents coming in to visit their children.  

And to pile on, if you didn't own this property, then you would be paying $700 or more in rent each month to live somewhere else.It's nice when you can find a hack that allows you to live rent-free, but that doesn't happen often.