Some of these renters are capitalizing on low interest rates and choosing to buy, but many are unable to buy due to lack of down payment or credit factors. 

Closing costs, including recording fees, transfer taxes and HOA transfer fees, if any5. 

MTR brought in 75% of the gross and more of the net due to lower cleaning fees for turning over the STR.For gross numbers we brought in about 1.2% of the ARV value in monthly rent this year which is decent based on the rules of thumb at least. 

How long will they have to cover property taxes etc for the decision they make?

Now what would make you think someone here wouldn't be doing their due diligenceAgain this is also a platform for new investors so there will be questions along the wayYou should consider developing an understanding for the purpose of a legitimate forum

Working with a CPA can help you navigate tax implications, and staying focused on long-term planning will set you up for success.

But I also love the idea of investing in real-estate and utilizing its tax benefits I have read around 10 ish books or so and the one I am reading right now recommended this site I am looking for some advice of things I can do to either prep for an investment into real estate and or do right now.

In lieu of living quarters, and if your area doesn't really need the value of a garage due to weather, the best uses I have seen are full-service home offices or gyms.

However, I do not know who this could be beyond a property manager which would not work in my case since I am looking to self manage for both tax (material participation in STR loophole) and profitability reasons. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend looking for a accountant willing to work with you throughout the year.