Some costs MAY qualify as startup costs if the rental rises to a qualifying trade or business level under 195 as well.

New construction requirements are for the sole purpose of keeping the trades working, elec, plumbing, mech, siding.

It takes time but that's the desired outcome. 

But, to normalize, the 10-year will eventually trade at a 100-150 bps spread to the FFR.

Consider investing as a partner or lender with someone in an area such as the Rust Belt that does produce cash flow - but keep in mind that the long-term trade off will likely be less appreciation for that investment.

Not a bad outcome for worst case if you ask me. 

Hi, I'm a long time Bigger Pockets fan and a financial advisor/CFP and former tax lawyer by trade.

There's always trade offs when it comes to investing and one of those tradeoffs (if you want to find positive cash flow) is having to be okay with an older house.

Quote from @Paul Gupta: Hi, in California, For jobs requiring a license, there was CSLB (contractor state licensing board) which would give either a General Contractor license, or specialty licenses by trade (~60 specialties such as concrete, welding tile, ) https://www.cslb.ca.gov/about_us/library/licensing_classific...My Q: does Maryland and DC area have similar requirements? 

Unfortunately, people in the trades are often good at their trade but poor at managing their business.