We have a potential deal in the works that has a business on the first floor and apartment upstairs. 

This will give you some hands-on experience and an opportunity to put into practice what you have learned from reading the book. 

Potentially fix and flips.

What is standard practice?

You ideally want a paper loss to minimize taxes and potentially even take it further and apply the loss against other income you have as Bill mentioned in the comment. 

Hey everyone, been doing a lot of research and educating myself on best practices to running an STR successfully.

And this property has SERIOUS value-add potential.

For more trust, be sure these platforms feature reviews and testimonies.Plan meetings with prospective team members during your May travel to Houston to go over your objectives, expectations, and potential areas of collaboration.

I have a partner and he is more so"in charge" in looking a properties and i am mainly focused on taxes, potentially starting and LLC etc.

Yes there are quite a few around 350k, with lesser rent potential