You can depreciate the structure valued after renovation at $300,000-50K (50K being the presumed value of the land itself) over 27.5 years = 9,090/year using a straight line depreciation method

Shipped it straight from Amazon....

In conclusion, if you straight up over paid for both properties and there’s no way to remedy this.

And my dad lives in Texas, and insists that I DO NOT “move twice” and instead should just move straight down to Texas (I have NOT EVEN CONSIDERED telling him that instead of renting in PA, I am planning on buying a house before I move then rent it out - he would have a heart attack, he really doesn’t understand).What should I do?

In a reverse exchange the QI for your 1031 creates a separate entity that takes title to the new property and holds it until your sale has closed.It's a rather intricate process as you can imagine and rather expensive compared to a simple straight 1031 exchange. 

But it's not as straight forward you'd hope. 

@Andrew Tanner Why try to owner fiancé it, why not just straight up sell it?

Should I be looking at straight cash flow, at hold, at BRRR?

I have a similar question as the OP but in the context of a second home (not a straight investment property).

For you, working in Cambridge, Lowell works well as a trafficked but straight drive down Route 3 to get to work.