This strategy allows you to buy one rental annually while maintaining stock market diversification.

With this in mind, I went with Axos bank and opened a business account.

I’d love to hear from those with more experience to see if my observations align with yours and if there are tips for managing costs or maximizing the benefits of mid-term rentals. 

This one has been going on a while.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

@Arya TaghdiriWelcome to the community and be ready for a huge amount of information at your finger tips.

Even if not immediately then your son would owe it when he sells, so no advantage to this strategy. 

Personally, I think most newer investors WAY overthink this piece.

This way, you would have two income sources offsetting most, or all, of your mortgage payment.

I'm surprised they were able to do a 1031 under this structure.