You cannot write off any of the other expenses, including depreciation - and you certainly shouldn't be writing anything off on a Schedule E.You're definitely trying to have things all ways - Homestead Exemptions are for owner occupants as are favorable interest rates.  

(All have same addresses on drivers licenses/Identification)They have decided that the lease will be in 2 of the 3 of their names because the 3rd woman has past eviction in 2010 (7 years ago) so she will be an occupant but not on the lease and she has past traffic/criminal record (not sure if it is DWI or something else report doesn't specify) but she will not be on lease but probably indirectly paying rent to other women as she will be an occupant).Woman #1- qualifies income wise by herself 3x's the rent but has a ton of outstanding student loans and bad credit rated 515.

Buy newer construction or updated properties so you don't get hit with a major cap-ex expense while revenues (rents or occupancy) are declining.5.)

Is there any law that limits the number of occupants based on the sq.ft or number of bedrooms?

Owner-occupants are out as well as investors that are weary of inheriting a tenant-stuffed property.

I'm a real estate agent with Berkshire Hathaway with my main office on the Main Line but doing a significant portion of my business in the city and greater suburbs...have worked with several buy&hold, owner occupants, and house hackers from BP. 

For example, I've been assuming I could average 20 days occupancy each month, but I really don't know what's "normal" or how to reasonably determine what to expect.

Murphy exemption); (b) single family housing sold or rented without the use of a broker if the private individual owner does not own more than three such single family homes at one time; or (c) housing operated by organizations and private clubs that limit occupancy to members.Exactly what you can get away with is beyond my scope and I wouldn't want to be the one to try.

Also when you buy do due diligence on leases and length of occupancy. 

Apparently breaking the lease agreement by bringing in additional occupants, dogs, or disturbing the peace or threatening the neighbors wouldn't be sufficient to reason to end the lease either.In the end I was put off by the difficulty in getting rid of duds, and the poor caliber of potential applicants who contacted me.