And to any wondering, no, I don't loose a wink of sleep over using legal tax strategies. yes, I think those who can utilize it have earned it and don't owe a thing to anyone else.

Boise continues to grow so, this excess supply of rentals will be absorbed over time.

Be mindful of Excess Business Loss rules3.

They were all non performing - many renovation loans where little reno was done and maturity date already passed - guessing it was inexperienced borrowers learning how to flip and were getting "easy" money. ya they took me out of about 14 of my deals and well being that I was getting paid it was not my place to coach them they made loans far in excess of my positions. 

You are worried about loosing someone else's money in your post. 

The downstairs tenant has sent me videos of the noise, and it seems excessively loud and obnoxious. 

You could tuck in the excess for a neater look, and it should work fine for guests.

Norfolk is pretty loose on regulations, but fewer areas are desirable, and Virginia Beach has very specific locations that can be STR (Sandbridge and The Resort District).

If it's empty one month you loose a whole year of positive cash flow.  

Except the bank, they loose, because now your partners and you are getting what $ they would have sucked out of it.