OTRCH operates a couple of what I call "wet rehab" centers meaning congregate housing for persons otherwise homeless and there are several other agencies like "First Step House" etc. that might be interested in a presence in this block.Or you could cut your losses and put it back on the market under the "greater fool theory."  

Holding the new property until passing offers a step-up in basis, eliminating deferred taxes for heirs.

I’ve had more success filling vacant units by word of mouth/ networking with other agents in my market recently than I have through the typical advertising methods.

Yes, I share the same feelings and dont understand why the information and steps required is SO extensive! 

And many of my clients are taking on the BRRRR method. 

I thinks what I’d prefer to do is use the BRRR method and have rental properties.

Taking small, manageable steps now will help you make informed decisions when you're ready to invest.Good luck!

Each has their own tax implications.There are some alternative methods of calculating how much of the distribution and therefore the interest expense falls under this category, but the bottom line is that it is very important to keep track of. 

Quote from @Matt McNabb: I'm a solid $400k/yr job in NYC and have $250k to begin investing as my first step into building a portfolio, although I don't have time to be a landlord so I have to account for management fees.  

This sounds like an unnecessary and potentially problematic step.