A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

If you- own a short term rental in your name- have a mortgage on that property - self manage Do you still create a LLC to manage your rental business or do you manage it under your name and then file income and expenses as part of your tax filing?

Send me the address of the property and the existing rental income.

You mention airbnb in your title.You want to work with a professional who understands whether a rental that is listed on airbnb is considered active or passive.if it is passive, there might be opportunities to generate paper-losses in the first year to offset your other income such as wages, interest, dividends, etc.

I will say having that passive income is tempting but it would come at the cost of doing a full blown condo conversion to free up the capital.Anyways, am I thinking about this right? 

It makes the same or more amount of income per unit without the risk or cash outlay at the beginning.

Sec.8 Tenants can't  - they have to wait for the housing authority to be approved.BTW, I never discriminate against a source of income.

If you have to, interview a couple until you find one that you "click" with. 2) Let that agent connect you with their network of investor-friendly lenders. 3) Meet with these lenders, have them talk over your finances with you and what loan products you would qualify for at the moment based on your income and assets. 4) Let the outcome of that conversation (#3) dictate your strategy moving forward and take your findings back to the realtor so you can craft a plan. 

(My one --Delaware--LLC with four little properties in it with an income/banking history.)

I can at least take a look and see if there is a creative way to play this.Regardless, I'd start renting the property immediately (assuming it's rentable), and starting bring in some income until the foreclosure.