My research tells me that once I qualify as a REP with the material hours spent on the STR, I can use that status to deduct depreciation from my LTRs as well by using a regrouping election on my tax return.

agree .. other wise its just the bottom feeders looking to take his equity from him  with couching it as a rescue.. his best bet it to sell if its owner occ the profit is tax free .. regroup and start over.. 

I have not posted in some time, and I must say I feel of the wagon. Life started moving fast as many probably can understand and I completely fell of track. If I had to leave a takeaway from this post before getting t...

As I've come to terms with this I have taken the last five months to regroup and really think about the future which brings me to my post and what I'd like to get the communities opinion on.I successfully negotiated and acquired one of my duplexes in 2017 that I nearly have paid off (note balance is $54k, property value $230k).

I backed up, regrouped and went smaller to gain more experience. 

You can stop, regroup, wait on your DSCR to improve....or you can keep going by using another tool in the old tool belt.

Join a local facebook RE group and ask who the best commercial lenders are and ask for a point of contact instead of just the name of the bank. 

I've been searching for going on 6 months, so I need to reflect and regroup.

Try your local RE groups on Facebook or meetups.

Hunker down, regroup, save some money, live frugally, get grounded.