Even in Puerto Rico (born and raised) is extremely difficult to find. 

Are you able to buy that house at an extreme discount and just rent it out so you don't have to move? 

If your manager’s/contractors’/employees’ activity counts towards “activity”, then it is much easier to qualify as a business.2) One rental could be a business all on its own if it was not extremely passive3) Multiple rentals would generally qualify as a business4) Triple net lease properties probably do not constitute a businessBy looking at only Section 162 case law what would the new regulations change?

I bought the lot 10+ years ago to prevent a slash-and-burn developer from getting it and putting a home that wasn't right for the historic neighborhood (it's not designated, modern homes look extremely out of place here).  

Open and honest communication and mutual respect goes a long way.

Extremely difficult.....the bank will require a legit POF/preapproval to even look at the deal, they’ll want close to market value, there is about 10% the volume there once was so nothing “slips thru the cracks”.  

I can tell you from extremely painful personal experience that your employees, left unsupervised by you, will siphon off a ton of cash. 

But before you make that decision, you need to have a serious come to jesus about what your goals, needs, and deal breakers are with regard to:Time - how much time can you reasonably afford to spend on the investment once it's made, on an ongoing basis Control - are you willing to sacrifice a bit of your return for someone else to handle tenanting, maintenance, and turnover, or do you want maximum control regardless of your experience levelResolve - if you're inclined to be very hands-on, do you honestly know that you will be able to maintain the level of involvement long-term?

The hot water heater....I’m honestly not sure how he missed that.

That’s terrible banks are so honest and never lie or exaggerate!