Will be nothing out of the ordinary. 

If done properly, short-term rentals can offset directly against ordinary (W2, active) income without the real estate professional status.Losses generated by increasing depreciation with a cost segregation study, can be used to offset active business income without qualifying as a real estate professional.

Another thing to consider is that repairs are not necessarily an ordinary expense.

The only difference is whether or not you'd be able to offset against your ordinary income...and that's also assuming your income level is under a certain amount (my apologies if I'm pointing out something you already know).As for syndications, as long as we are talking about equity purchases of commercial property and not debt or some of the other fancy syndications out there like secondary market litigation or insurance, you will have very large passive losses starting from your first year.

Instead, your profits are considered active ordinary income since its the sale of inventory, not investment property. 

I would need to double-check my previous tax returns but it is either taxed as ordinary income or self-employed income. 

Profit from a flip is consider active, ordinary income subject to "all taxes" such as self employment taxes and reported on SchC. 

And when you take money out of a 1031 exchange the IRS says you are always taking profit out first and not basis.Your accountant would have to be willing to uncapitalize those and then treat them as ordinary expenses which would probably involve an amended return to change the basis, the depreciation schedules, your net ordinary gain. 

If you want cash flow, seller financing is great, as long as you remember you're giving up the tax advantages (interest taxed as ordinary income) and any appreciation. 

It is easy to show that it is an ordinary, necessary and reasonable for investors.however, if you have no business(no rentals or no flips), then this item may potentially not be deductible.