Make a ton of creative like 10-20 ads per campaign and test a lot.

Advise, change the marketing.. test each marketing piece you are doing and if there are changes that need to be made, copy, marketing type (mailers to PPC), make the change and put it into test mode to see what needs to be done to get more deals equally more money. 

Yes, your wife can qualify for Real Estate Professional Status (REPS) if you file jointly—even though you’re the W-2 earner—since only one spouse needs to meet the REPS tests.

Mortgages are also stress tested meaning when they check to see how much you qualify for, they run the numbers at higher rate (I think it is prime plus 2%). 

.- Long Island (Fire Island, Hamptons, Northfork) - New Jersey (Jersey Shore)- PA (Poconos)- Upstate NY (Catskills, Fingerlakes, etc)- Any other areas where it is still reasonable to have material participation (unsure of the real test here / if other geos are a no-go for tax reasons) Clearly still a fair bit of research needs to be done on my end but would love to speak to some professionals to hone in on where I should be researching and learning more…Thanks in advance for all the advice!

Quote from @Jeremiah Dunakin:  You hear on this these podcast that someone got lucky/ skilled thier way to a house that they bought 50% off and while painting a small patch on wall they discovered that they had another duplex connected. 🤣🤣🤣🤣🤣  

House hacking is a great way to test the waters and become a landlord to find out if you really want to continue down that road. 

Would you consider furnishing 1 room for MTR as a test for your market?

There is actually tests you can take to become accredited investors.

Here are a few thoughts to help you think it through:If you rent the vacant house:You’d be building long-term wealth through cash flow and appreciation.It could become a stepping stone: Use the rental income to save for your next home, as you mentioned.You’d gain valuable landlord experience without taking on more debt.You may also qualify for financing on a new primary residence with better terms (owner-occupied loans tend to have lower interest rates and down payment requirements).Just make sure to factor in:Local rental demand (how easy it is to find and keep good tenants in your area)The condition of the home and what it would take to make it rent-readyWhether you’re up for managing tenants or if you’d prefer to use a property managerIf you sell it:You’d get a lump sum that you could use as a down payment on your next homeYou’d avoid the responsibilities that come with being a landlordIf you separate the deed, you may increase the property’s marketability and make the transaction smootherThe tradeoff is that you’d miss out on long-term rental income and appreciation, which can be powerful over time, especially in a market where home prices or rents are expected to rise.If you’re not sure yet, you could always fix up the vacant house and test the rental market.