Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

The person I would seek advice from is a CPA about this. 

I personally would avoid over investing in this unit.

I personally like index fund investing in funds like VOO.  

I recently sold my personal house , had a buyer get a home inspection , and tried the same crap , to the tune of $60K .

I personally have success in doing flips with my partner here in Ohio.Lakewood and Edgewater are gentrifying neighborhoods in Cleveland.

I take a picture of their driver's license.I ask for phone numbers that accept texts and any alternate land or business phone numbers.I ask for the names and birth dates of anyone under 18, and ask if there are any service / emotional support animals, together with their names and breeds.I also ask for personal references, previous landlord contact info (and length of time there), employer contact info (and how long there, together with earnings), as well as the name and contact information for their manager / boss.

One-person rental units are in the highest demand, and co-living directly appeals to this market.

One person's crazy is another person's sanity!

My personal preference for a buy and hold would be an already established area (or an area that's still gentrifying, but has already seen significant progress).