I would expect vacancy rates to remain elevated for several quarters, which will keep pressure on rents and possibly lead to concessions by apartment owner/operators.

Although this would typically be a good thing, it takes its toll in Texas.

The concept you're referring to is likely related to the potential tax advantages associated with owning and operating a short-term rental property.

So, other than depreciation causing you to report a loss, you still need to be operating at a loss. 

This can range from the small operator seeking a money partner for a SFR flip, to a small apartment house rehab, alway up to $100 million office building to apartment conversions.  

accounting for manager expense or no expense bc I'd self manage2.) if I were to try and flip it and forecast a sale price, do investors typically prefer a manager?

Rents are not listed for this property, so not sure on cap rate but 4-6% for cap rate is what I typically see. 

You typically want to keep the exemption on the home that carries the higher tax.

I can buy cap rate 3 if Fed guarantee fed rate is 0.25 for next 100 years (would not happen LOL).Typical S&P yield Earning is 4.75.

However, if your objective is to collect on the $30,000 you will have a better chance if they remain a viable business where they can't afford to have a judgment interfere with their ability to obtain credit and efficiently operate their business.