If your automobile depreciation is large, especially when you use first-year bonus depreciation or Section 179 - you may indeed reap a substantial double benefit: major tax deduction for the IRS, and no reduction of your business income for underwriting. 

This year is the last year to obtain 100% bonus depreciation.

Or you can partner up with someone else who has a deal ready to go and who will be handling the management.My key message is focus on a good deal and the 1031 treatment is a bonus. 15% really is a relatively low tax rate.John Corey

If we closed 3 months ago and I wanted to give a bonus because they found a home run for cheap (so they made out okay but not great) how do I go about doing that?

The first thing I look for in a househack is a 2 unit building that could function like a 3 unit building - so, like a 2 unit with a bonus attic or basement.

However, you can expect a 14-18% of gross income which will include your monthly management fees and leasing bonuses. 

And if the tenant does leave it clean you got a bonus.

Also, are you sure that TT supports the form for RE bonus depreciation?

Also, forgot to mention that it's worth keeping it STR through the remainder of the year so that you qualify for 80% bonus depreciation.

The benefit is normally higher in commercial properties.Regarding the tax savings, it will depend on several factors such as whether you can claim real estate professional status(your title says realtor so maybe) and what the properties you placed into service in 2020 cost and how much you can convert into assets that are eligible for bonus depreciation.