I was considering house hacking it but the amount of renovations is substantial.

I bought with cash as it very easily permitted to step in front of all those who had to borrow at the time, and to do it with a substantially lower bid price. 

Even if the value had gone done and only gone back up to par, 13 years later you would have paid down the note on it substantially. 

If you're using the property as a residence based on the facts and circumstances, this exception isn't going to help you.If you're not using the property as a residence, and are merely on site (even if you stay nights) to engage in repairs and maintenance on a substantially full-time basis, well that's kind of a safe harbor that gets us out of the personal use trap under Sec 280A. 

I see social media influencers all the time documenting their problems and it is just making lemonade from lemons.

I don't believe you can apply the depreciation to W2 income as far as I am aware so that is one challenge for LP investors who may not have substantial gains from RE per say.

All of the cities you mentioned are growing substantially and many retirees who have picked the western NC mountains. 

Once you've accumulated a few doors as owner occupied (that way you keep substantial amounts of cash) max out your 10 properties (10 for you and 10 for your husband is each has the income to support the debt). 

Are our goals realistic or do we need to adjust our goals.I am also tracking how many decision makers, influencers and  gate keepers we talked to so far.

The Dodd/Frank act has some influence on this process and it varies by state so make sure to know your local law if you move in this direction.