Going from Single-Family Homeowner to Investor

[Michael Key]

Looking to make my first step towards becoming an investor and wanted to know what are some things I could/should do to take advantage of my situation.

Currently, I own a single family home (which I plan on staying in), but I have a guest suite that I will begin renting at the beginning of the year. I will have a lease agreement and rent payments will be paid directly to a sole proprietor business I set up. I am looking for any information on how I can use the income I will be receiving to get my foot through the door of purchasing my first rental property. (i.e. any tax advantages, claiming income, etc.). Any information is helpful.