For more flexibility or quick closings, portfolio loans or DSCR loans are also options.Tax Strategy:You’ll depreciate the rental portion over 27.5 years, significantly reducing your taxable rental income.Expenses like mortgage interest, property taxes, insurance, maintenance, and property management are deductible on Schedule E.If you qualify for Real Estate Professional Status (REPS) or materially participate under the Short-Term Rental (STR) Loophole, you can use rental losses (including bonus depreciation from cost segregation) to offset W-2 income.Consider setting up an LLC for liability protection, but understand it doesn’t change how your rental income is taxed unless you elect corporate treatment.Mistakes to Avoid: Overestimating rent, underestimating expenses, buying without inspection, or skipping proper tax planning.

By living in one unit and renting out the others, you can drastically reduce your living expenses—or even live for free—while your tenants help pay down your mortgage.

It lets you live in the property while offsetting your mortgage and building equity — but set your expectations right: the goal isn’t immediate cash flow, it’s learning, reducing expenses, and setting up for your next move.If you can repeat that every couple of years, even 2–4 properties in 5 years is doable.

If your goal is to reduce that self-employment tax to a minimum, an S Corporation is the best entity to use.

The property is held in his corp, but I’ll get a personal guarantee, and if appraisal value is lower than expected , I’ll ask for cross-collateral or reduce amount loaned out.

I like that your PM leads with thoughtful questions—feels like a balance between screening and coaching.Have you noticed that those “walk-throughs” reduce repeat calls over time?

Consider profit sharing loans or silent partners to reduce risk.

As others have said, focus on reducing expenses and increasing income. from there, educate yourself on house hacking as it's a great foundation and lower DP.

I think KCMO is considered a landlord-friendly location.A professional property manager can significantly improve an investor's life by streamlining operations, maximizing profitability, and reducing stress.

The IRS would consider this a circular transaction without a valid business purpose, and it wouldn't reduce your tax liability.Permits and LLC ownership: Pulling permits through an LLC doesn’t help unless the LLC is the actual legal owner of the property—and if that’s the case, you can’t use a primary residence loan (5% down conventional).