HI Kev, we helped a lot of luxury STR investors this year utilize the accelerated deprecation tax incentive, I would actually suggest checking out the bigger pockets featured tax preparer section and sine it's likely a considerable reduction definitely not try and do it yourself..the investment in high quality reliable tax advice is essential to any investor tool kit. 

My business partner spent over six months negotiating with the seller and we ultimately purchased at a 20% reduction from asking price.

Can anyone point me towards an online calculator that will show how much sooner we would pay off our mortgage if we divided our monthly repayment amount by two and paid that amount (half of a monthly amount) every two...

The weightings and note rates will matter a lot here.

My business partner spent over six months negotiating with the seller and we ultimately purchased at a 20% reduction from asking price.

A 100bps interest rate hike is equal to 5-10% reduction in asset valuation give or take.

.- I get what you mean about knowing your market, but we are all nerds here at bp while the average person is just trying to get into real estate or make some moves to help their financial situation so when they see an "expert" say something it carries weight.

Obviously this doesn't make a lot of sense from a cash flow basis but if we were to refinance it later on at a lower rate, after we do some upgrades, that could significantly help us but the reduction in cash flow is concerning.If we take the equity out and truly Brrr it, then we are doing better because we avoid the lower value mortgage but can finance at a higher level after reno.  

If comparable units rent for $1,200 with the tenant paying the utilities, then $1,200 with utilities included is a pretty significant price reduction and it's unlikely the tenant will leave.

Agent thinks they just want a price reduction so demanding as much as possible.