We can also walk and lose EM (and the money we've put into inspections and PE consultation.)

At that point, I was fed up and consulting a lawyer and was waiting to respond to Katee until I had legal advice.

Ultimately, consulting with a real estate focused accountant is the move here, but this should be a helpful primer.

Sounds like you have a plan to consult with some brokers and expose it to the open market. 

I'm a construction management consultant (so similar to engineering) and investor/agent in the Boston area so I get the need to want/need to stay local.

Like you said, every time you visit family, you can check in on the properties and now the trip is a tax write off (consult your CPA). 

Hey all,I have been listening to Bigger Pockets content for maybe 4 years and finally have removed myself from some side hustles, have the capital, and grew the...brains to start real estate investing.QUICK BIO:I am based in New Jersey, I work as a marketing/efficiency consultant, and have 2 avenues of real estate investing:Short-Term Rentals: I have 3 short-term rentals using my parents apts in NJ ( 1 of them just launched in Nov) for the past 2yrs near NYC (1 of them just launched in mid-Nov).

I currently consult within the industry, so was aware that SEPira(k) is likely the best home for anyone from Quest needing a new Solo 401(k) provider.  

However, as Zane mentioned in his response, another option is to consult with a lawyer who specializes in appealing property taxes.

Be sure to consult with your CPA to determine if you can utilize these deductions based on your specific tax situation.