Can I carry over this and apply to the income of the new construction after its rented out?

You should try to find an active investor-friendly agent who is consistently sending you deals through various lead sources they created over time.As you continue to work with them, you'll build a relationship with them, and they'll send you these deals before everyone else.Another strategy you can try is looking for wholesalers.

And he gets the income off the deferred tax while he's alive.2.

@Alex BellYou guys make a killer income, congrats!!

I would add in the ability to add an ADU later in the property to boost the income 

By looking at the numbers you gave me above, you can cashflow and your rental income is 1.1% to 1.3% of the purchase price.

3.How do you source your deals?

With every unit you add the next comes faster because of increased income and financing opportunities (equity). 

They didn’t go as strict as they threatened, at least not yet…https://www.atlantaga.gov/government/departments/city-planni...2 properties maximum and the first one must be  your primary home… so be prepared to move there and pay state income taxes  https://www.atlantaga.gov/home/showpublisheddocument/54610/6...you and your landlord will have to get this form notarized.Please just make sure you have a plan to keep making rent payments after your short term rental plans are banned.  

Have you thought about Wholesaling using Privy as your source and EMD funding to help you scale faster using OPM?