Also, the market has definitely shifted a bit, which I think will provide even more reasonable opportunity for us. 

That may not make sense in all areas, but if you can make it work it definitely makes more sense. 

The absolute lowest income tax strategy isn't always the best for the taxpayer.Regardless of the path chosen, OP should definitely consult a pro who can examine facts and circumstances, as well as goals.

I would not bother with an appraisal. 1. your more accurate idea of the property value won't be actionable, and the bank will definitely get one when they go to loan. 2. why would you want to delay closing?

Definitely one of my favorites!!

Look closely at the lake house numbers, in my STR experience, the start up and ongoing costs were higher than expected to maintain quality.The question of acquiring more investment property or paying down debt is definitely a personal choice, and depends on your current income and other factors.

There are definitely creative things you can do to get those occupied units back if you need them.

We’ll definitely check those areas out.

And I definitely figured it would be difficult since I don’t have much experience but i definitely have money to contribute.

@Eric BetteLook for David Greene’s book for renting out of state, one of my top book you can find it in BP book store.NOLO makes a book that shows Landlord Tenant laws by state if that’s what you want to compare every year comes w new edition..Yes you will definitely need a PM if you invest OOS and you keep your day job..I also invest close to Universities but not in NYS..