Offer a reduced price commensurate with the big repairs and call it a day.

By accelerating your depreciation schedules, you reduce your taxable income which in turn increases your operating cash flow.

Since you will not be renting the unit the entire year, I believe this will affect your taxes by reducing your deductions.

With a cash purchase you reduce some risk and increase cash flow. 

@Joseph HenryIt works the same on an adjustable rate mortgage - if you pay extra it reduces the principal balance

Most of the landlord unfriendly laws like rent control etc. end up reducing supply, contributing to a supply/demand imbalance and increasing appreciation potential while reducing turnover.

Increase your cash flow and wealth and reduce overhead and management time. 

@Nathan Gesner I am not asking you or anyone else to give me any legal advice, I am looking for someone who had participated in a syndication and is willing to shadow me to confirm my understanding of the proposed deal.

@Pretty Khare As Ruben and John mentioned above, you can utilize a cost segregation study on your STR property to reduce taxable income (or create a taxable loss) to offset against your W2 income, but you need to ensure you are following the IRS guidelines very carefully.

One idea I have is to "shadow" a real estate investor (although I am not entirely sure how to go about asking for / finding this kind of opportunity), but I am wondering if anyone has insight into other ways to gain a comparable level of experience.If anyone has insight into any or all of these topics, I would greatly appreciate the feedback.