I highly suggest looking into duplexes in areas like Sunnyside, Acres Homes, Independence Heights, and East River.

High volume discounts are available to everyone, irrelevant of deal type, with me.  

Think you're a little shy on initial cost to find a SFR in C grade area,   You're closer to $100k + rehab of $20-30K for a 3/2.   

Finishes builder grade or a bit higher such as luxury laminate, run of the mill kitchen shakers. 

I have been reading books, watching a few videos (although most seem like they are selling something), and reading articles online.

I would be very surprised if this was accurately done.That means you are cash-flow positive after depreciation of $1,666 per monthIf the return was filed, you may want to pay another accountant to look over the return to see that it was done correctly.Yes, buying another property, given today's condition of high prices and high interest rates would likely decrease your rental taxable income.

Also, with conversions, even if the municpality does not require MEP drawings, I highly recomend spending the money to have an engineer prepare them.

We were okay with paying a bit extra for something we love, but with the added complications of the undisclosed claim and the high insurance premium due to the property being in a high-risk status, it’s become a concerning situation.

The ironic thing is that in some resort/highly desirable locations where the cost of housing is high, when STRs are banned, the houses in question typically get bought by people as a second/third/fourth vacation home and then let it sit vacant. 

I highly recommend it and their prices for basic accounting ledger is much more reasonable than QB.