All the IRS cares is that the taxpayer is the same. 

However, the biggest con is that you are sacrificing a bit of your privacy by living right by your tenants and it is usually a lot more stressful since everything is your responsibility - managing tenant issues, handyman repairs, taking care of the lawn, etc.I would strongly recommend house hacking especially in the Columbus Ohio market!

However, Opportunity Zone investments require careful structuring to ensure compliance.Evaluate your priorities: If starting a business is the main goal, proceeds from your primary residence (with the capital gains exclusion) might provide the simplest funding option.This post does not create a CPA-Client relationship.

Rental arbitrage can be a great way to start with Airbnb if approached carefully.

Care to share?

Security deposit will take care of the last month of unpaid rent, but I'm considering filing a small claims court lawsuit to get a judgement for recoverable damages.

However, you must take care of the reason why it's happening.  9 times out of 10, it's a leaky pipe behind the wall or a humidity issue.

I don't care what the reason is; once they put the deposit down, they are under contract.

That could be a good opportunity, but underwriting of a seller-financed fix-and-flip deal requires careful analysis.

No problems with rust but do have to deal with hard water; they have a chemical treatment called a pillow that takes care of that.