Your Realtor should be able to pull a list agents who participated in recently sold/listed units in and around the subject building. 

The only one that will qualify to be used against your W2 income is the short-term unit if you are materially participating in the management of it.

Like being a participant at a major event where important people in that kind of field would be at?

Additionally, how does dilution work between class A and class B if they don't participate in the capital all?

They're also great at selling you software, more training, and coaching/mentoring....that will for sure extract a good deal of money from the participants.   

Thought it would be nice to start participating in the forums and connecting wih others, so here we go!

You need to pass "material participation" test and personal use test, but that's for your future tax professional to explain.Yes, bonus depreciation is possible, but only on the current value of the personal property and land improvements.

Assuming less competition, I believe I could secure the property at a lower price by participating in the second mortgage auction.

Here are the important factors to consider for a house hacker of a 2-4 unit property when using the program:NACA’s eligibility requirements consist of the following:No member of the household can have an ownership interest in any other property at the time of closing,Occupy the home over the life of the NACA mortgageParticipate in five actions and activities a year and at least one prior to NACA Qualification and one prior to closing in achieving NACA’s overall mission of economic justice; andBe willing to abide by NACA’s terms of membership, participation, and eligibility.Occupancy requirement:At the time of closing, the house purchased with the NACA mortgage must be the Member’s only home.

So I'm guessing only buildings with less than 10 units can participate?