Thanks for the detailed explanation. 

I have had to make numerous title claims (going through one right now) and having that policy has saved me a good amount of $. 

In addition, because of how low interest rates are, there are numerous buyers who are waiting on sidelines for these foreclosures because money is very cheap right now. 

You will find yourself competing with numerous cash buyers on every investment property and single family residence.

But Rob’s explanation of Intent and Ability is exactly how it was explained to me for Arkansas as well.

I really appreciate the explanation and guidance.

A bit more of an explanation...I've been reading a bit about taxes lately ("The Book on Tax Strategies" by Amanda Han and Matthew MacFarland was a surprisingly interesting read), but one part that I'm a bit confused on is when one can begin to take advantage of the non-obvious deductions for rental properties. 

I would probably dig deeper for more of an explanation/solution.

I realize that depends on numerous factors, but any thoughts as to strategy would be greatly appreciated!

You will have numerous issues that will arise especially if you already brought it to their attention.