Best to talk the tax issue over with a CPA but the loss will be reflected in the K-1's and can offset gains in other deals, provided they both flow through to the same entity (or you personally).

You definitely want to get with a competent tax advisor for personalized advice.

(Our personal State Farm Agent recommended them and so far its worked out well) We are in Indiana. 

Depending how much you earn you can step up those savings by getting a side-hustle in any part of real estate....working for a top Real Estate office on weeknights and weekends, working for an RE Investor, working for a General Contractor and learning a few skills, etc.

It is money I can take out early and avoid the penalty because of a divorce but it has to go to a personal bank account and it has to come to me in a lump sum.

I thought James was a respectable no-nonsense person?

Does it matter if I keep the rents in my personal accounts?

I am old school I would never personally do that..

I would still take a look in person since Detroit is block by block.

I have personally been involved in house hacking and furnished rentals for over five years, and it's been fascinating to see the quality of mid-term tenants we've had over the years.However, it's worth noting that in our area, the demand for short-term rentals on platforms like Airbnb and VRBO has declined in the past 24 months.