@Joanne WymanThe issue with these homes is the renovation cost will far exceed the after repair value.

Secondly, if this strategy qualifies for the STR loophole, would I further be able to run a cost segregation study on the unit that I plan to STR, in order to take advantage of bonus depreciation? 

I would weigh those two options out and see what costs less overall between an entire new loan and or the blended rate of the two.

Usually 10% of my tenants leave the place better than they moved in, 10% of my tenants leave the place worse than they moved in and we had to exhaust their security and pay the cost in terms of 6 to 12 months rent to bring a property to listing condition (depend on how long the LTR tenants have lived there of course).

, you may not need the book on estimating rehab costs by J Scott; it's great if you want to check it out though! 

What is the cost of the program?

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

Include not only the mortgage payment but also taxes, insurance, property management fees (if applicable), maintenance costs, vacancy allowance, and any planned capital improvements.

Purchase price: $390,000 Cash invested: $25,000 House hacking is a strategy that involves reducing or eliminating your housing costs by renting out a portion of your residence.

You can look at other recently sold houses in the area to see if the dollar per square foot cost of the one you were looking at lines up with what has been selling in the area recently.