But Flood insurance is required as primary ($2000 / yr)By the time I fix and sell the home (8-12 months estimated) and incur additional costs + holding vacant, and selling expense (SQUATTER RISK, <100 miles to MEX border), and then go back and recapture depreciation + Capital Gains... my TAKE HOME will be far less than the appraised market value. ~50% haircut.So... since all goes to charity in 15 - 20 yrs anyway... why not donate now and play those cards?

How much would it rent for, what are your costs?

I was thinking if 3 of us shared one, it would cut down costs and provide each of us that additional support we may need to juggle all of our tasks. 

I've had to replace the water heater and some repairs to ductwork costing about $2300 so far.Would I work with them again? 

Buying in the low cost areas have great paper returns but are rarely actualized by out of state guys!

I have found that locally, this is where you can see other homeowners who needed the same thing done and often times they have someone who isn't big on the internet or on a list, but is reliable and cost-efficient and they appreciate the business.

I may want to do a cost segregation study and look into tax benefits.

However, your spouse could potentially qualify if they manage your properties or undertakes substantial renovation projects, allowing for more aggressive tax strategies such as accelerating depreciation.Another way to get passive losses is through Cost Segregation.

The downpayment stands at $108,000, and I have a mortgage at 4.9%, costing $1450/month.

No commercial business owner wants to own the building when they can triple net lease and instead just pay for furnishings, taxes , insurance and maintenance.The ConC return on a triple net leased property is far higher than on a property owned by the management company.Passive investors can still take advantage of accelerated depreciation and cost segregation thru material participation of new construction of a STVR home.