You need to start tracking your basis in your S Corp stock, which will fluctuate from year to year.Third biggest piece of advice: start running payroll for reasonable comp if you haven't already.Now...we're to the returns. 

She tracks our expenses, tracks our depreciation, tracks our contributions to the company, and gives us monthly updates on the business.

Even with a 3k loss, I'd pay the piper for this "dream shaped rental"..you can make it back from somewhere else and not have to hope and pray you'll break-even in 4 years or more.You're on the right track but you may need to pivot away from this one, hope it works out for you.

Either way, you're going to need to show you have a team with experience that's capable of managing such a property.Those are just the broad strokes – let me know if you need more detail at this stage.

I'd like to share an analysis of one property to make sure that I'm on the right track; see below.

In Helena where I am Bank of The Rockies, Opportunity Bank, First Community, First Security are capable of doing some of the same kind of thing.

Well my point was that as far as the rental “season” for these college students finding new housing, we are still right on track here in my area.

Mine is above 800 but I'm currently self-employed (within two years) without stable income track of record. 

That's not to say you aren't capable. 

I like hard money loans that fund purchase and rehab (the percentage and rate depend on your track record).