It seems no matter what you send they need more and newer so anytime you get a new statement just go ahead and send it in before they ask because they will.  

Thanks  Sorry Couldn't seem to edit. 200k property with 200k in insurance not 100k my fat fingers messed up :) The quote is a little above 300k

This seems like it may be the least intensive, and one of the more affordable options as you qualify for more optimal loans if the house serves as your primary residence 

It seemed like a great opportunity to start investing in real estate.

It's newer, built in 2020 and doesn't seem to have any needs as it has only been lived in for a few years. 2.

Currently, i have thought of hiring a lawyer to draft a lease, but it seems they make it as long as you want it.

I cannot seem to find any information on if there is a waiting period, am I tied to the purchase price as the home value even if there are significant improvements to the house that raise the market value of the house?

It seemed like a great opportunity to start investing in real estate.

If you are filing for yourself as it seems you are, I'd consider the following:  The allocation %'s you refer to creates a split between personal & Schedule E.

So it seems like more of the passive route you’ve mentioned, would love to connect with you and pick your brain!