There are some things you can potentialyl break out so make sure you have separate costs for materials/labor for:Land improvements, paint, flooring, appliances, blinds- there are few other more specific as wellA good REI Tax Strategist can help ensure you get the most benefit from your renovation

Would there be a tax benefit to doing that?

I'm benefiting from it as much as anyone else here, but I think we'd really have to be putting our heads into the sand to think that STR's are not majorly contributing to these problems in touristy areas.Two major and obvious problems they create.1) Fewer LTR's available. 

Reap the benefits of a low money down/low interest loan, and then move again in a year.

I was fortunate enough recently to land a job opportunity in NYC that was worth taking, as my income greatly benefited even after the increase in rent and taxes and is ultimately where I have always dreamt of living.Goals: I've determined that I would like to start investing with a two-family (duplex) property.

We’d be willing to stretch the commute out, and frankly would need to in order to purchase something we’re looking for but will likely need to remain within a 2-hour (1 way) commute of NYC for the foreseeable future.Alternatively, I’ve discussed the benefits of house hacking with my wife and she has reluctantly agreed to give it a go, but it would need to be on a shorter-term timeframe 1 to 2 years max.

The advantages of syndication are you are a part owner in the property, you get cash flow, plus the tax benefits of ownership.

Post your "brain picking" questions here for the benefit of all to read and others to also answer.

Note this benefit is only for closing cost.

This tax credit is a federal benefit that saves companies money for implementing activities such as improvement, design or development of software, processes, formulas or products.