No, you cannot create phantom losses this way.Some additional issues that we have not addressed:- holding rentals inside an S-corp has many tax disadvantages- you will likely jeopardize your $250k/$500k capital gain exclusion for homesteads- you will lose asset protection afforded to personal residences by most states- you will lose your homestead exemption for local property tax - your insurance will have to change from owner-occupied to rental, i.e. go up- and there's moreConclusion: there're reasons why nobody is doing this clever "strategy" but A+ for trying.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

In addition to your down payment, plan for closing costs (around 2-5% of the purchase price) and set aside at least 3-6 months of expenses for repairs, maintenance, and vacancies.

It will take time.3) Property management companies, chamber of commerce meetings, local commercial RE brokers, etc are all additional options to network and find people who do deals.

Removing it cost us an additional $5k over our estimate.  

They countered and we met them in the middle at 15% under, and then negotiated an additional $15k off during inspection, so total discount was around $150k off list price/ what they paid in 2022.

In addition to just posting your property on furnished finder, they were reaching out and building connections with hospital HR departments and recruiters to help place nurses in properties.

You should always require them to add you to their policy as "additional insured" or "additional interest" and you will be notified if they cancel or change their policy.

FlashlightTape measure/Laser measurePaper/Pen/iPadBinocularsReceptacle testerLevelMarbleDroneRespirator/Face Mask/Eye Protection/GlovesAQI testerWater pressure gaugeThermal cameraEndoscope cameraKnife Good list, in addition in my truck; ohm meter, megger, magnehelic, steel ball, air compressor  generator, plus stuff I'm forgetting

In addition to offering "cash for keys" assure them that they can use you as a referral on their next tenant application, or offer them a short term-2 month lease.