AirDna will be better in this case as a baseline for analysis.

If this will be an equity partner, an LLC may be the better option.

I should add, while that's CAN be nice to take losses/deductions, its better to actually be positive and make money.If you flip, you are considered dealing in inventory, not an investment property. 

Since townhomes and condos can be less expensive they sometimes can cashflow a little better than SFH in year one, but over time the SFH appreciation in value and appreciation in rent growth can turn into better cash flow and more equity in the long run.  

You might need less money upfront and could score better returns.

Should probably look into hiring some property management too - if you have cash flow but unbearable headaches of managing - might be better to break even and hire full-service management and then re-evaluate down the line

Other than adding a bath, bedroom, or creating a better layout that's where you get the best bang for your $$. 

We won't be in business long if we don't make a reasonable profit.I am convinced that I have an easier time finding great tenants because of the better job I do with the renovations and upkeep.

many licensed institutions offer the same exact product and better terms most of the time then private money still being no income no doc and welcoming first time investors .

Hi Brayden,If you don't want to keep the property for the coming years, it may be better to do a 1031 exchange.