Thanks for all the input guys, really gives me something to think about and consider before I go the $35k route!

However I'm still not sure if this was the right route to go in terms of filing my taxes. 

I believe there was a reason why you went with Airbnb and not the lease rental route.  

I am going the buy and hold route, focusing on small multi-families, but I am not ruling out SFR by any stretch if the numbers are right.   

Mainly because someone is helping you interpret/make decisions on numbers, rather than just recording themIf you go this route...

A co-signer is on the lease which means if there is a default you will need to go through the regular landlord tenant route to collect back rent and damages.

If one was to go that route, do not use the HELOC for this lol....

Don't go down that route.

We decided against taking the legal route and continued to plead ABC Baltimore to finish the rehab and pay us the monthly rent without success.Of course, during this entire ordeal, Baltimore City issued several citations and fines to our property because ABC Baltimore was often working without required city permits and leaving construction trash outside.

I'm also transitioning to borrowing private money, short term to acquire them, and if I have to go out of state that will make at least three categories I'm new in.I'm familiar with several courses such as Mobile Home University, etc and Loopnet, etc but would appreciate any feedback on them, or any other route to take in getting started.