If I give a client tax advice and they go to their real estate agent, who then goes to a forum to confirm what I said....I hope they get a cramp in their in their foot. 

Then I would like to begin investing and renting residential properties.

If you turn any two "bonus rooms" (rec room, office, formal dining room) into two more bedrooms, then you're at $5,950+ per month—a 138% increase in rental income.Now, imagine scaling this across multiple properties while keeping lower upfront costs compared to multifamily properties.

, clear laminated instructions inside the unit, etc.Also very important to consider scale--if you are planning to have several STR's in the same area, then it's wise for you to invest time now to build your team there and manage the place without a co-host.

Then you eventually have to demo it.

If you've gotta ask, then yes you need a PM.

No use for a cashier when you got U-Scan will soon come to RE, people today a lot more educated then 50-100 years ago btw.

However, should you have net rental income that is subject to net investment income tax, then REP status would be helpful to avoid NIIT.Just to be clear, if you have an STR and you materially participate in it, you aren't subject to NIIT. 

So we would have to get a loan, pay off the seller and transfer title and then wait the seasoning period before doing a refi unless there is a bank out there that will treat it as a refi off the bat

Then use a small chunk as "learning money" so if you don't lose it all, it won't be detrimental.