We discovered problems that required a lot of work and significantly reduced the property’s value, forcing me to lower the price.

When it comes to analyzing properties, I’ve developed a specific checklist to make sure the home fits both resident needs and operational goals:Square Footage: Ideally, at least 2,000 sq. ft. to ensure enough living space for residents and staff.No Stairs or Pools: It reduces liability and keeps the home accessible for everyone (this is just my preference).Corner Lots: I love corner lots because they often provide extra parking and outdoor space—both of which are critical for families and visitors.

I also would like to reduce the audit risk due to large bonus depreciation. 

Here’s my two cents:Paying off the condo might make sense if your main goal is to reduce risk and enjoy the peace of mind that comes with no mortgage.

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

Their focus on attracting higher-end guests may reduce potential issues.

As you get deeper into your career you never want to reduce your prospecting and lead generation.

My stress level has greatly reduced from constantly looking for another property.  

Here’s a streamlined perspective:Your current approach, putting more down upfront, minimizes risk, increases cash flow faster, and allows you to build equity while reducing overall interest.

Before we sold it we hired a management company to reduce the burden, but even then we decided to sell and walk away.