The best drywall job I got was when I had the entire first floor (9 foot walls and the ceiling too) -- living room, kitchen, bedroom, bathroom, the back hallway, and the upstairs bathroom all drywalled AND textured for $2,000.

I currently have one on my second rental and the strategy above doesn't apply.

Can we use our current investment propeties or purchase another investment property purchase to at least slightly offset the tax hit?  

Since you have a conventional loan if you lived in it for 12 months your all set.

I live In New York so I feel the competition would kill since I’m new to this whole thing.

@Calum ShallenbergerRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Hey Oliver,To reduce the high interest rates on your commercial loans for single-family houses in upstate NY without changing the loan terms, consider these steps:1.Negotiate with Current Lender: Highlight your good payment history and compare rates from other lenders to negotiate a lower rate.2.

They also have not been living at the house for a few years.

We are currently renting the house out by the room (furnished) and on average bringing in about $2,700/mo in revenue.

Currently have one rental and one flip in Lowell.