The best investment strategy for W2 part time investor in 2023?

[Michael Hyun]

My strategy for this year (2023) is to:

1. Buy two 500k multifamily units (or one 1m multifamily unit) - ideally they break even. 

2. Cost segregate both properties and generate close to ~150k in passive losses, ~35k in taxes in 2023.

2. Use Real Estate Professional Status to be able to use those passive losses to offset my W2 income. (My wife is REP, and I am W2).

Plus, I'll have two residential multi family properties that cashflow a little bit - and then I can refinance in the near future to boost that cashflow number up. It is a plus if I can get a 2-1 buydown so that I can achieve some cashflow before I refinance in a few years.

Anyone have any suggestions on where I can buy some residential multi-family properties at ~$500k, or $1M that will breakeven/cashflow??