Here are five crucial tips to help you stay profitable and avoid costly mistakes:Buy Smart, Not Just Cheap – In today’s market, finding deep discounts is tough, but focusing on properties with value-add potential is key.

Why borrow against an investment property at a higher rate than you can against your primary?

Also would need to know if the property would be owner occupied or an investment property. 

In some cases, after running the numbers, I’ve even faced potential negative returns, causing me to miss out on promising deals here in South Florida.That brings me to my question: I currently own two homes—one is my primary residence, and the other is a rental property.

@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

@Alec Jacobs you have a good process as far as making them fill out a application before touring the property.

we have two properties under agreement and both are $2M + and VA loans, which i was shocked they go that high, so yeah they are powerful.

How many properties have you bought?  

You can watch closely to see if it is something you would like to do on future properties.

If they can get a property dirt cheap, you are still going to see it at the 80% of ARV like he says.