Historically, Ag land has produced 10%+ annual return.

After this adjustment, the expenses are still greater than the rental income (it's producing a loss).What I'm unclear on is if I can apply the loss as a Passive Activity Loss deduction against my W-2 income (I'm under the MAGI limit).

Even with future income to offset the mortgage, I would not expect a lender to underwrite a SFH as an income producing property like they would for a multifamily property. 

My 2/1 in the Smokies is at 100% occupancy this month somehow, but it will only produce 1/2 of my 3/3 and 1/3 of my 4/4 this year. 

Windmill, it's a lot cheaper, produces similarly, no decay rate like solar, generally longer lifespan than solar now.

VacancyNon payment of rentRepairsMaintenanceUtilitiesIf you'd like to get an understanding of this business you'll need to do what I told Lenza to do and watch the hundreds of hours of content I've produced explaining the intricacies of these variable expenses, what to look out for, why things shift, what bad tenants do, what good tenants do, how to reduce risk, why you can't avoid risk etc.....It's clear Lenza is lost on how this business works right now, if you're in the same boat as him you should check it out.

meant to say we have two financial regime right.the last 12 years are the cheap money regime, so buying real asset risk/reward is almost no brainer than holding cash, good to become borrower for asset that's appreciating (10%) lolbut in the last 12 months we moved to expensive money regime where holding cash itself is producing money with almost no risk, while doing business including real estate is having higher risk (compare to cheap money regime).

Outside of Silicon Valley and Hollywood there is no other industry producing wealth and opportunity.

@Allen L.If your producer can't answer these questions I would try to find a new insurance professional. 

Note that rental losses are traditionally only deductible against rental income; since you clearly have positive passive income, a loss-producing property likely would help reduce that income.