Quote from @Aaron Zimmerman: I would look for other ways to legally reduce income such as cost segregation studies.

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

My question is, do I just use the heavily reduced price I was able to purchase it for since it was vacant, and then the material cost of what I renovated plus what things I did contract out, even though that basis would be way under what the other renovated houses that sold near me per SF sold at, or are you able to use similar comps to determine the depreciation basis?

I have dabbled in real estate, but never heard of brrrr before now, and transparently never did much research outside of knowing that property ownership was a way to reduce my taxable income. 

Contributing to a Solo 401(k) or SEP-IRA can reduce taxable income, and Section 179 or bonus depreciation lets you deduct equipment costs upfront.

This takes a little more work, but it's the fairest and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.

The implication is to lower rents requires reducing the cost of ownership.  

Private funding from a relative may provide flexible terms and reduced financial risk, but formal agreements are necessary, and interest paid is deductible for you but taxable for them.Traditional investment property loans offer stability and tax benefits like deductible interest and property taxes but require larger down payments.

She told me personally that you cannot reduce 10 years of research into a 12 minute  TED talk!  

Organizational Delays: Section 8 offices are often overworked and understaffed, leading to slow processing times for new tenants, delayed rent increase approvals, and poor responsiveness.Benefits of Section 8:1.Long-Term Tenants: When you get a good tenant, they usually stay for a long time because of the tedious process required to qualify for Section 8 housing.2.Consistent Income: If Section 8 covers most or all of the rent, you typically receive reliable monthly payments, reducing the risk of non-payment (as long as there isn’t a large tenant portion).3.Lower Barrier to Entry: Because properties in these areas are often more affordable, it’s a good way for new investors to break into real estate without needing a large amount of capital.Overall, I’ve seen the good and the bad of this strategy.