Will rent for 1750/month.Capex items needed soon: roof, water heater, furnaceArea: A area, appreciation is at about 5% a year but average home price is ~$500K so this home will appreciate faster, this will have multiple offers on itDeal #2 - mixed use, small office with a 3 bedroom and a 1 bedroom over it.Ask: 325KCurrently fully rented on one year leases, bringing in 4775/month but only one tenant pays their own utilities plus owner is responsible for snow removal and landscaping. 

$540 is not unreasonable for a home of that size and the items you mention.

Right now, we’re carrying about $60,000 in debt ($40,000 in credit cards and a $20,000 car loan).

In my personal experiences a lot of structural items start with bad drainage.

The property has to be considered 'in service' for you to list it on your tax return.In service entails a couple of items such as1) The property is in livable condition - Working bathroom, kitchen and an area to live.2) The property was advertised for rent.Best of luck

Wanted to get some thoughts from more seasoned small multifamily investors on a few items or any other suggestions:- Any specific pros/cons of any particular states in SE (TN, AL, GA, NC, SC) to consider?

If so, are you concerned about Spain's tax system on worldwide items?

It sounds like you're cash flow negative, but not sure you have all the details/line items listed.

I would certainly advertise that and add pictures and themed items to house.

I wrote an article specifically for house hackers that lays many tax items out for you.