Exempt on W2 to save for rental

[Corbin Brandt Daviston]

I recently got the idea to go exempt all year on my W2 job and pay no state or federal tax. Save all that extra money & then use that extra income to buy a duplex. Using the cash flow from the duplex to pay back the taxes owed. Has anyone thought of or done this?  Any pros or cons? Thanks. 

[Adam Martin]

Talk to an accountant but this sounds like an incredibly risky strategy.  I do the opposite and claim single with no dependents even though I am married with 2 kids.  In a good year this helps pay some of my capital gains from trading and in a bad I just get a larger refund.  Not every year is a winner and especially not the first since there is usually turnover and make ready costs.  Another strategy is opening a second account where you are are saving for the down payment.  Most companies let you split your check so put aside money and don’t touch it.