After the fact we are wondering if we should sell it or try the BRRRR method?

. :)  This is why Pace Morby was so timely with his sub to training and methods .. 

I bring that up because I had to do things by way of the trial-and-error method. 

Taxpayer uses this material participation method:(2) The individual's participation in the activity for the taxable year constitutes substantially all of the participation in such activity of all individuals (including individuals who are not owners of interests in the activity) for such year;E.g., they buy operating STR in December, don't hire a property manager, housekeeper or landscape maintenance guy until January.

So, subject to refers to a method of financing, while contract for deed refers to a method of sale.   

Specifically, I’m looking into:Cost segregation studiesBonus depreciationHiring my wife as a Real Estate Professional (REPS qualification)Other legal strategies to hedge against taxes and maximize savings with real estateMy Ask:If you are a CPA, tax strategist, wealth advisor, or experienced investor with proven methods in this space—or if you can refer someone—please share your insights and resources.

Is anyone running 30 day rentals and what method do you use to qualify for active income status?

That one tall tree in front should probably be cut down, and others trimmed back. - I like that you highlighted the lack of a water bill. 

I think the house hacking method is great if you run your numbers in a way so that once you move out of the property (after atleast 1 year) that you'll be breaking even or even cash flowing a little bit every month so you can hold that asset for the long term!

Honestly, it's not the most exciting way to do it, but house hacking is the lease risky method of investing, required the least amount of capital and has the best CoCROI.