Now I think STR's as more of a bonus more than a basis. 

Anything you can't fully deduct, you can look to use accelerated depreciation.If you're doing a rehab, there will likely be significant tax savings for you - one of the big bonuses of real estate investing!

by offering services of real estate agents in the area, selling it to contractor below market value to establish working relationship and offered my expertise in finance as a bonus.

Bonus Tip:Speak with a local, experienced realtor to help you do a Comparable Market Analysis.

If the compensation is fair, then I would ask if there is anyway to cover an additional bonus or rush fee.  

While it would be a huge added bonus to find a CPA  you can grow with over time, the most important aspect is finding one who know their real estate taxes. 

Additionally, by gaining this hands-on experience, an investor could also gain invaluable exposure to multifamily investing.How to find a smaller investment property for saleThere are many different resources to search for available listings.

Bonuses for potential for an ADU add on if the lot's big enough.

If my brother and I hypothetically invested in an income producing property together, would only one of us be able to claim material participation in order to allow us to use bonus depreciation to offset our active income?

Like others have suggested, refinance out of your FHA into conventional (added bonus if you can get rid of PMI).