if you have a long-term tenant, the first question is, how long have they lived in the unit?

Quote from @Brittany Smith: This is a long-term rental.

The $700 home warranty (1 yearr) comes with a sewerage coverage.

Rather, it will be considered earned income... and if you have losses especially the first year with a bunch of start up costs and depreciation... and if your money is at risk (let's assume Yes), then this business venture can offset (or add) to your W-2 income.This is how short-term rental loophole works.

Going forward, get your tenants locked into lease terms of at least a year.

Much less transactional, but more lucrative and fun long term 

If you are trying to build long-term wealth, you may be more focused on appreciation.

Only one Kimberley Smith (note the spelling) licensed in NC, so I probably have the right one. "30-40 deals per month" would put you in the category of higher "closings" ("transactions" may be a better term) than any other broker in the triangle, so I suspect quite a bit of embellishment.

This was more about me being able to use residential eligibility for a long term hold rather than pay rent each month.

There are a few options for that -- a duplex, in which you live in one side and rent the other long-term.