However one has $3,700/mth in income while the other has $1,875/mth.

Additional income and to grow equity.

I reviewed other market conditions (population growth, median household income, etc.) and I ended up passing up on this deal since it didn't have a population growth over the past 2 years. 

I had to sit down to really think about what I wanted after retirement and I want passive income.

., they add no permanent value, and it's very much the norm for the buyer to not pay more or separately for them), I believe you need to have enough cashflow to earn back the furnishings spend in a year.

If that is the case, then the income gets reported on Schedule C.  

Starting next year, I’d like to use the property as a primary residence, but I’m trying to take advantage of bonus depreciation running it as STR for remainder of the year and take the paper loss against my spouse’s w2 income.

I have a few owner financed real estate deals I’d like to track efficiently while also managing rental income. 

For income verification, I plan to obtain a copy of the employment contract.

STR with a 50% occupancy monthly income I'm guesstimating to be about $2,037.