Example: you can option to have a fireplace with two windows on either side.

Remember your situation is unique so it's important to consult with a tax advisor or CPA to explore all available options and ensure compliance with tax regulations.Thanks!

Quote from @Blake Winiecki: Figure out how much you want/need to earn, then reverse engineer it to see what options are available. 

I know that the regulations in Beverly Hills is "friendlier" to landlords than Los Angeles and I'm exploring the option to convert a multifamily apartment into condos. 

My vote is option one.  

Both Ecobee and Honeywell are great options for smart thermostats so you can remotely control the temperature settings and set temperature ranges. 

For funding, explore options like FHA loans, personal savings, or creative financing, and focus on New Jersey markets that align with your goals, such as Newark for rentals or commuter towns for house hacking.

Another option that is more passive would be to invest in a syndication as an LP. 

I updated the bathroom/porch in the spring, and am finishing construction on a 2-stall garage (the previous garage was basically a large shed that I could not fit much in).Moving forward I am considering one of the following options to put my money and build equity:1.

With your focus in using house hacking, Conventional or FHA loans would be your best options.