Do you completely avoid properties with this material siding or is it not as big of a concern?

They can offset other rental income and even carry forward, but they won’t wipe out your W2 paycheck unless you qualify as a RE professional.In plain English:STRs: possible to use bonus depreciation against all income if you materially participate.MTRs/LTRs: you still get bonus depreciation, but it stays in the “rental bucket” unless you’ve got RE pro status.If you’ve got a good CPA, they can run the numbers to see if a cost seg on your MTR makes sense this year.

However, the thought of going into debt to start this adventure has caused my wife to not see my dream.

I am going back into real estate investing and growing my business. 

I have not used any of these companies but turnkey is going to be much more expensive than you doing this yourself.You could buy good used furniture from 2nd hand stores or FB marketplace. 

They have storages and use stored materials from previous projects and buy dirt cheap materials and appliances from auctions.

They sold the note at a discount and used the money to jump into another deal.It got me thinking — has anyone else here structured or sold a note as part of their investing strategy?

I know when I used to fly into sunriver Oregon they had a bunch of bike trails people on regular rental peddle bikes Just had to mind them crossing the runway when I was on final :)  dont want to hit someone on a bike at 90 knots 

Quote from @Jackie Smith: I'm new to REI, I have one long-term rental, and have been wanting to get into an STR.

The only requirement is that it be Material Participation and you have to record the time.