The agreement is contingent upon the buyer securing financing which I was not able to do and have provided a denial letter.The seller is requesting money for damages because the appraisal came in at the purchase price but needed a heat installed in the kitchen which the seller agreed to install (Not in writing).

How much can you budget for furnishings and all kitchen items and creature comforts for the ones you want to MTR.If you have a vacant 6-unit, you have great possibilities to try all strategies.

2 unit house 30 year FHA 6.6% major renovations (roof,bathrooms,kitchen,etc) home has appreciated 397k when appraised to 550k zestimate (similar comps in the area are 500k).

The backyard has a full outdoor kitchen, hot tub and a pool but... 

Are you renovating your kitchen?

In your scenario, claiming that $117k depreciation deduction could lower your taxable income from $700k to $583k, which is a huge benefit in the short term.As for the RE pro status, if one of you becomes a full-time real estate professional, you can potentially offset active income (like W2) with passive losses from real estate. 

After tackling affordable upgrades like kitchen makeovers and adding an ADU, they focused on medium-term rentals for traveling nurses.

I’m Hey Adam, totally can relate with you being from an expensive real estate market - I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

@Greg P.To become a full-time real estate investor, focus on cash flow, appreciation potential, and scalability.

Maybe you can add clear rules on noise, guests, shared space usage, cleaning responsibilities, maintenance expectations, and specific guidelines for shared bathrooms/kitchen.7.