We have a great GC whom we're meeting with soon, so really appreciate that perspective, as I'd been considering doing it myself.

The seller must think he is sitting on a really hot property, or the buyer is asking for too long of a DD period.

It's a pleasure to meet you, Andy.. are you considering venturing beyond single-family homes down the line?

That said, you will need to make sure the property meets the definition of rural first.

A great place to start is https://www.biggerpockets.com/meet which you can use to find like-minded people in your area and every other market across the nation that you may consider.You'll find some helpful tips at https://www.biggerpockets.com/starthere.For tips on how to get the most out of BiggerPockets, check out: https://www.biggerpockets.com/rei/biggerpockets-com-tutorial/The BiggerPockets Keyword Alert System is an awesome tool: https://www.biggerpockets.com/renewsblog/2012/12/1...See you on future threads!

Ive been looking into this a bit, more for my candle business to move to, but then to own in the future, because I meet a lot of fellow vendors at markets that need these type of spots to grow. 

Small multi-family is hot right now due to house-hacking (low barrier of entry), and future cash-flow. 

If we meet all of the requirements and choose to take bonus depreciation on an STR in 2024 (to take advantage of the 2024 40%), would recapture occur if we decided to change use in 2025?

I think you have the basics of meeting partners and people to work with in your local market and seem to be well on the way with two deals going already so big congrats there!

@Meet Shukla welcome to the forums!