Sounds good. 

That sounds real scary to use in a state like California. lol. 

It sounds like a time share and you are footing the mortgage.

You also have to take into account the local / state landlord laws...especially the ones coming down the pike in CA's November ballot --> "Justice for Renters Act" Not sure if it'll effect STR or MTR but as a general rule of thumb, I don't run numbers on best case scenario.

Not only for investment purposes, but if you're house hacking, then it will be your home too.It sounds like you're motivated considering your proactive approach.

Also since the water is pooling everywhere and the soil is muddy, does this have any effect on the foundation?

A goal of making 75k annually from large multifamily is great, but that sounds like a goal that is several goals ahead of where you are.  

Capital losses offset capital gains so it sounds like you are not a good candidate for a 1031.

Yeah, that does not sound like a standard process.

They require 2 years of work before my overtime can be considered 'effective income'.