It becomes easier & easier every year as my income increases. 

So yes it will reduce the taxes owed this year but it will hurt every year in the future.

I would suggest that you rent the property and consider using a property manager who can finance the improvements for you up front and be repaid out of the rent so you can have passive rental income over the long run. 

Are there any banks who don't care much about the chapter 13 if we can show the equity, our incomes, our cash, our credit scores are good, and our payment history are all good? 

What are your expenses compared to income?

"Hire" that LLC to manage the property Run all expenses and income through that LLC.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

#5 is one I haven't done yet but have concerns about idiot tenants who won't replace the battery on the smart lock and then say they can't get into the home #10 There are now water sensor IoT devices that can definitely help monitor floods and have been shown to be well worth their while for anyone who owns apartment buildings as they reduce insurance premiums and help prevent huge water damage claims

The voucher amount is based on factors such as the applicant's income and dependents so not everyone has the same voucher amount.

That's tax free money and if you structure things right you can acces the equity, have a cash flowing asset, and use the depreciation of the home to write off against some of your income.