It dropped 100 points form 740 to 640 and it has not come back up in 3 months.My parents are more than happy to take out the loan as they are very financially well off, own a few homes in cash, and have no interest in ever taking out another loan for themselves.

I purchased a home 2 Years ago near olde town Arvada. I've done a lot of work, but it also was completely gutted previously. My partner lives with me, but I pay for 95% of utilities, etc. as well as all furnishings, r...

Boy, you are starting off in the most expensive RE city in the country!

I found it off market through a cold call and negotiated directly with the sellers How did you finance this deal?

That being said, if you are the property manager, couldn't you consider yourself a real estate professional and run these profits through a separate S-Corp (or an LLC taxed as an S-Corp) and then draw off a W-2 / and a K1 and then shuttle these proceeds over to a solo 401k ?

Not to mention I got to write off over $175k from my income taxes using a cost-segregation study.  

Question: Should we rent this house(2nd home), which has offers for $820k off-market to sell, or rent for $5k, which also has interested parties? 

For a hands off investor its just a claim and another service ticket to be outsourced.Go over your declaration page you will have lots of decisions to make.  

For rental property, yes you can write off insurance and a portion of interest in the year they are paid 

I'm searching for ways to acquire off market properties since there is so much competition with listings on the MLS.