Nice work!

Automated technology seems like a nice to have for a rental, but maybe it would be more coveted in an AirBnb?

I am not looking to replace my regular job, but rather long term growth with shorter term cash flow.

Getting out of college, one benefit is you can close on your househack before you start your job. 

I was approached by my neighbor if I wanted to purchase their house since they plan to move in the next three months for new job opportunities.

You could just hire him to build; the PM piece shouldn't be tied to the JV - they get the business if they do a good job and it should be equitable fee's for the area. 

Based on the employment records the jobs thst afford them the apartment are new.

So, if i have a full time w-2 job (unrelated to real estate) and a out of state rental that is managed by a rental property manager, i can not use bonus depreciation to write off my w-2 income?

You haven’t said what amount the rent is but I’m sure it’s not NYC prices and reasonably between 6 adults if they’re working even part time jobs they would likely be able to come up with the rent.

I should add, while that's CAN be nice to take losses/deductions, its better to actually be positive and make money.If you flip, you are considered dealing in inventory, not an investment property.