RE is always changing and if you have only one niche then well your limited in opportunities and subject to the conditions that exist at the time for that strategy.  

The condo will limit the rental options to age restrictions. 

Rising land prices are not that common either, and limited to select areas.  

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.

And I feel the most limited sympathy for it.

Personal usage will limit the loss in 2023, as mentioned in the reply.

The power of community!

Like you said, I want to seed different strategies I can implement with the limited capital I have.  

I don't understand if I count since I'm living in the property or if it's only the tenants that count towards the limit of individuals that are unrelated living together.

The effort to foreclose, the limits on rates, etc.Maybe a unicorn to find HML that will loan him the necessary money, but I doubt he will find it.