I will send you a link to sign up for REO listings through the top REO broker in Illinois that we work with too. 

I have a 2500 sq ft 3 bed 2 bath 2 living 1 dining and one bonus room rental.

You don’t need an entity to use sec 179.However, there are income limitations, business use limitation on auto, and potentially deduction limitation on auto deductions based on type of auto.If sec 179 doesn’t work, you can also use bonus but it has its own threshold and requirements. 

What should I do: studio, 1bed, or 1bed with bonus room (possible home office)?

What should I do: studio, 1bed, or 1bed with bonus room (possible home office)?

Real estate folks are learning a current work around by selling and in the same year buying another property and using the bonus depreciation (from a cost segregation study) in order to offset the capital gains on the sale.”

Therefore able to leverage scale and buying power across projects. 2) you get bids as you described and divide up the equity based on how much work they have into it. 3) to incentivize quality you must reserve equity of the profits for a bonus pool.

Property Management to collect rent, leases and etc would be an added bonus. 

You can always offer up some kind of bonus for changing their reservation.

What are some expenses that I should factor in for: capital expenses, insurance, bonus taxes, ect.