As you read these books, watch the BiggerPockets podcasts.

@Jennifer Turner I heard and appreciated your empathy in reading this in your post: "We know they're hard working and would like to continue working with them rather than move toward foreclosure, but we know they're in over their heads if we continue under the current terms of the mortgage and don't want to set them up for failure."  

After reading all your answers on this thread, I am more likely to try it out. 

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Quote from @Bob Dole: All,Apologies for the newb question, but I just heard about cost segregation and have been reading up about it online.My understanding is this (and please correct me where I'm wrong):Pros: -accelerate depreciation, front load (vs. just a straight line over 39 years) -save money on taxes because of the depreciationCons: -if I sell the property, the recapture will be larger -not recommended if you flip propertiesSo hypothetical situation:-Majority of our income is W2 based, let's say it's $500k-Net income from commercial rental is $100k-Income from dividends and interests is $100k-Both of us are full time W2, so non-prof real estate (but this can change  -- please see below)So we're hypothetically grossing $700k a year. 

If I read this correctly, this essentially changes the 2 of 5 rule to 2 of last 10?  

Read "Set for Life" by Scott Trench or "The House Hack Strategy" by Craig Curelop.

I stumbled upon this thread and I'll admin I've only just read your initial post.

I just read an article in Bloomberg magazine that talked about the tech worker migration to Bend

As you read these books, watch the BiggerPockets podcasts.