I've been buried with tax preparation and a couple projects, so BP moved from the back burner to completely off the stove!

My business which owes some thanks to the program will do over $50K this month.  

Most places in Ohio can be profitable rentals... if you can stomach those property taxes!

If you can rent it for $2,000/month, after fees, taxes, and potential maintenance costs, you’d still make a decent passive income.

If your bottom line numbers on tax returns and W2 income are not strong however, this will be an abrupt dead end.

I know I'm getting the tax benefits of depreciation, the minimal positive cashflow, and the appreciation on the property, but It's pretty much a long term play of slowly raising rents annually to increase cashflow, which will eventually get basically reset when my loan goes P+I in 10 years.

You and your legal, tax and financial advisors should review this transaction in greater detail, especially the PLRs, to ensure you understand the significant risks involved and are structuring the transaction as close as possible to the PLRs to mitigate some of the risks.

I also wanted to benefit from tax saving before the years end with a new property purchase.

Credit is a factor as bad credit may limit options, or may have the lender require you to put 10 or 20 years of taxes and insurance into escrow. 

That's 50k a year gone and you are losing tax write-offs and equity potential.