think about how much money that would be, almost nothing.

-I hear condos are now charging outrageous amount of money for association fees and costs and people are selling their properties on account of this.

(The property’s home state and your state of tax residence will both want money if they collect income tax.)If the property is only in his name you avoid all the taxes by waiting until his death to give your daughter the property.

If you pick your JV correctly you can make a lot of money.

In addition there are a wide range of grants HUD supports in most cities to improve a property to rent to low income people.Perhaps the best decission in looking at section 8 and low income rentales are the larger assets of using the contract incentives and special financing programs that only exist to those who provide services and employ your tenant that you could benefit from.

The best strategy I see for it is as a Luxury STR, I’m just not sure the market supports this. 

It may not make sense for your personal finances if over invest and end up with a house hack option that costs more money than somewhere you could live on your own.2.

I 100% agree if i dump it now i will lose money.

I didn't have a lot of money- but I could have been smarter about it.

If you want to deduct money for cleaning, hire a cleaning company (which I know you said you don't want to do).