They may have to pay 60k in cap gains (based on 20% cap gains rate). 

Hello Patrick, there are a few things that need to be considered to turn this into active income such as length of average stay, hours you spend managing property and services you provide.

Based on the 14-day rule, I don't need to file any profit from my short term rental.

@Allison Zittritsch whether STR, MTR or LTR, you'll first need to figure out a target purchase price and get pre-approved by a lender.Then you'll need to research where to buy, based upon rents versus purchase prices.We can assist with referrals, PM us.

If you refi into a 30 year, your debit service will be about $5k +taxes and insurance, whatever that is in OR. 

Naca services folks who could never qualify for any loan OTHER than a Naca loan.

The golf sim will help garner more bookings but I do not think you can count on it to generate a specific amount of revenue.The ADU I would get real world prices on cost from a GC and then calculate the return based on other units with ADU in your area or if no comps you can get an idea by +1 the bed and bath and looking at larger comps in your area.  

If you want to copy that sort of model, go be someone's assistant for a while, with a base wage that'll keep you from starving. 

I've found that CPAs that focus on a niche area such as real estate rather than offering general services to everyone are typically much more knowledgeable about real estate tax incentives.

I recommend looking into areas near economic bases - close to Nationwide Children’s Hospital, Ohio State Campus, New Albany, etc.