@Akku Kumar, I recommend establishing your budget first.

After the renovation is complete - you can either sell the property or refinance it into a long term DSCR (debt service coverage ratio) loan.

My last post a while ago connected me with some great people who had some great advice and wanted to reach out again. 

I’ve been at this a Long time, and almost all these people bragging on how they made money anticipating the last crash (or boom) get the next one COMPLETELY WRONG.

We purchased the property in 2020 as a primary residence and then turned it into a long-term rental in 2022.

As long as the money is green anyone will accept it.Good Investing...

Last example using your numbers.

As a side note for education expense, you may deduct education that maintains or improves your current job skills or that is required by law or your employer - as long as the education does not qualify you for a new business. 

The frequency would be 3 calls a month that last 1.5-2 hours each.

But classifying your depreciation (either the leftover annual depreciation after taking bonus depreciation, or the regular amount of depreciation if you didn't take bonus depreciation) can be taken as an active deduction against your W2 income for as long as you materially participate in the property.Disclaimer: I'm not a tax professional so not financial advice.