If you are trying to compare your idea against REI Nation, you're over your skis. 

Over 15 years and 7000 closed loans and operating in several states now - rock solid reputation. 

Major rehab on the land and both homes over 1.5 years.What was the outcome?

You are in a decent position and if done right you will be ok over time.

@Josue Ramos,Huntsville could be worth checking out since you’re leaning towards appreciation over cash flow.

I'll also add that guidelines change over time. just because they don't like it now doesnt mean they wont decide later to be okay with it.  

My elderly grandfather owned a two-family home in the area, but over the years, the property had fallen into neglect.

Over the 30+ years my wife and I have walked and pencilled well over a thousand possible deals. 

Im happy to scan a few over to you if you like you could use as examples. 

Additionally, high-income earners with modified adjusted gross income (MAGI) over $250,000 (married filing jointly) may be subject to the 3.8% Net Investment Income Tax (NIIT).For 2025, bonus depreciation is at 40%, so consider leveraging it for eligible property assets like appliances or fixtures to accelerate deductions.