Fingers crossed that it closes soon and keep my losses a little lower.

Starting next year, I’d like to use the property as a primary residence, but I’m trying to take advantage of bonus depreciation running it as STR for remainder of the year and take the paper loss against my spouse’s w2 income.

The loss, if any, is not inherently passive vs inherently passive rental income loss and will offset your other income if you materially participate in the activity.

.---- OR ----Buy a property via some yahoo that just says "it's a great deal" and gives LIMITED vision of the #'s, deal, who get's what, etc etc... 

Here’s what you should know on Schedule E:Depreciation (Line 18) – can be added BACKCasualty Loss/Amortization/One-Time Expenses/HOA Dues (line 19) – can be added BACKInsurance (line 9) – Added BackMortgage Interest (Line 12) – Added BackTaxes (Line 16) – Added BackAnd this is why owning property is such a great method of building wealth.

Are they experienced in the loss mitigation requirements?

I could sell the property on the market but I think after fees and taxes, I would be at a loss.

When vetting a syndicator, you should ask them how they handle pass through losses, and some may provide historic averages for their prior investments.  

The “loophole” allows a non real estate pro to obtain nonpassive losses, done correctly.

So a $254 loss.