Of course to maximize your tax benefit it needs to be sustainable over time. 

I wouldn't suggest you buy a single-family home to live in because the additional cost outweighs the benefits.

The growth in San Antonio is moving north and the builder incentives will benefit a new investor like yourself.

The thing is on his built for you website they know some of the key words to put into the coding of that website.

If there's a family member or friend in a similar situation, and you can both align on the initial plan (location, home type, price, usage/occupancy, etc) you can pretty easily get a co-ownership agreement in place and even a joint mortgage.The benefit here is it might open up your ability to buy a larger place in a nicer area which could lead to a faster rate of appreciation and overall better living environment. 

Realistically, there should be no benefit, and there are probably some disadvantages, of doing what you propose.

Getting the federal return correct is the most important and with owning two properties, there could be some positive tax benefits.

If it is unclear as to whether you have met the standards of the Illinois Code, it is recommended you speak with an attorney for an explanation of Landlord/Tenant Law.

I want to spread out whatever “wealth” we have into other properties that could potentially benefit us.

And the passive loss rules may prevent you from getting a tax benefit if your rental deductions are more than your rental income for all of these options.David OrrTax Modern