Quote from @Ben Trageser: If you live in your short-term rental (STR) property in a future year after claiming depreciation, depreciation recapture does not occur immediately.

Given that 60% live on campus, that's 30,000 students in potential need for housing.

This way I can see pictures of the applicant, their living conditions, people they're associated with and their job.

Sadly, we lost my mother-in-law to cancer two years ago, and my father-in-law has since realized he no longer wants to live there, though he remains emotionally attached.The home is in its final stages of construction, needing only finish work and a kitchen remodel to be rentable.

You live in one room, rent out the others, and pay your expenses with the income.

a lot of people will poo poo this, but I also live in a market where cash flow is low, property taxes are high and properties are expensive (which is a relative term).

But I can't see why Cleveland would increase in value based on negative population growth and, generally, being a bad place to live.   

While fire safety is undoubtedly important, a mandatory sprinkler requirement may have the opposite effect—discouraging necessary renovations and inadvertently making these buildings less safe.No one disputes that sprinklers can help save lives in the event of a fire.

I've lived in Fishers/Carmel my entire life and know the market well. 

This house-hack will be a negative cash flow while I live in it, fix it up, etc.