The home owner is a architectural engineer and im hoping he has applied his skills to the up keep of the property. 

I recommend putting a good team together like a good architect, Civil G and D engineer and landscape architect for the project.

With my years working in engineering I often overlook the physiological perspective.

If you can find some cash flow, the appreciation factor is a turbo-horsepower engine working in your favor.

Other than that, macro data can also be easily found through any search engine.

But also don't let people take advantage of it if that hourly pay is too low in your market.Keep study in this forum and don't forget to use the search engine sometimes, there're tons of information that will make you ready as you're stacking up cash for your initial funds.

@Timothy LewisFirst - you will not be able to write off the whole purchase in the first year.Second - $120,000 is likely on the low end for a engineered cost segregation study but there are DIY softwares for cheaperThird - you need to determine if you would benefit from a cost segregation.You benefit = do itYou don't benefit = don't do itConsult with your tax accountant as he would know for certain.

For example, I have a tenant who is a college football coach and another tenant who is a traveling engineer.

Again this was investigated extensively by electrical engineers, fire investigators but no cause was found.

This is Pro TIPS for make your Airbnb very pleasant and safe : the best Airbnb renter is always paid professional that's looking for temporary housing: nurse,doctors,engineers,contractors...