I do expect to get at least another $5-7K for an annual bonus plus tax returns.I'm open to look at any investment property, but ideally I'd like to purchase a Cape Cod vacation rental.

Multi-Family would be ideal too.

According to your analysis PDF, the ideal time to sell is 5 years from now (your IRR at that point is 55%). 

So what is considered a good commercial loan rate in this market, if assuming ideal terms.. 20+ years left on the lease and a 65% LTV in this market.

Ideally, I’d love to find a 3+ bed 2 bath SFH that needs work but not a complete gut, live in it for a year while I fix it up, then refinance and start renting it out.

@Alex Rand - I dont have zero experience in commercial, only residential, so maybe you should not listen to me at all...That said, with the ever expanding to e-commerce, the traditional retail has been and will continue to shrink, meaning the demand for retail space has been reducing and will continue to reduce....I would not get too greedy here....

Ideally, I'd love to find a 3 bed 2 bath SFH that needs work but not a complete gut, live in it for a year while I fix it up, then refinance and start renting it out.

e - Found something in the property that she didn't like, that she didn't notice before?

The right apartments, in the right location, bought at the right time, at the right price, should provide investors consistent positive cash flow, while we wait for rents to go up and the loan amount to be paid down a...

Ideally, you would work with your tax advisor to determine (1) if you are a real estate professional and (2) if you materially participate in the rental real estate activity which you referred to in your OP.