You rent it for one year and create a successful STR business that shows a trailing 12 month net income of $75,000.  

We also have a finish carpentry business.

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

Please let me know the financial implications. 

The reality is most financially independent people went through a decade + of working 60-80 hours a week.

Bigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Given your financial constraints and the property's ineligibility for historic tax credits, this approach allows for reinvestment into assets more aligned with retirement account rules.For future real estate investments, you don't need an LLC for tax reasons.

Prioritize your financial stability.

Which would be more effective for pitching my Airbnb arbitrage business?

I'm not sure if that would bring in enough money but it would certainly make things easier financially speaking while you built up your real estate portfolio.