Come to think of it, though, I can't imagine why they wouldn't let me perform one just to understand how much I can offer.  

I don't fall in love with properties as I would imagine all of you don't but rather look for the most cashflow a property can give us. 

I imagine the more I question their motive the more holes will be poked in the scenario.

You can typically change the way the entity works - may or may not make a tax difference, but you're only 6 months in so I imagine you're showing a paper loss anyways? 

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

Imagine you make $100k and you are affected by 3 tax brackets.0-33k =-33K 0%33,001-66k 10%66,001 - 100k 20%You can take $100k in deductions this year and pay zero taxes, for one year and then $10,100 for for 2 years  ($20,200 total)You can take 67k in deductions this year and pay zero taxes for a year, take 33k the second year and pay $6,800 year two and $10,100 year 3. ($16,900 total)You can take 33k each year and pay $3,300 in taxes all 3 years. ($9,900 total)Obviously this is simplified but unless you expect to make much less and be in a lower tax bracket in the future those deductions could come in handy.

Imagine a 4bed/2bath home with a small ADU in back, a converted garage with a private entrance, or a three-level home with a basement that can be converted into a private apartment.You can get privacy and house hack, but it takes a little more effort.

Considering thousands of properties were built before 1978, I imagine the first year will be rocky.

Imagine you only do 1/3rd as well as they did.

Imagine if you had one single-family home.