I have a full time W2 that I'm passionate about, so I feel this process will allow me to time to make sound decisions as opposed to quick fix n flips.

@Rachel Jane a lot of issues here to consider:1) Does the condo association even allow rentals?

Check with your lender first—they may allow it if you personally guarantee the loan.2.

Since rental losses are typically passive, the best way to offset W-2 income is through Real Estate Professional Status (REPS) (750+ hours) or Short-Term Rentals (STRs) (100+ hours and more time than anyone else managing the property), which allow real estate losses, including depreciation, to offset active income.A cost segregation study accelerates depreciation, generating large upfront deductions.

Connecting with experienced investors is a great move as it allows you to learn from others' experiences and opens doors to partnerships, resources, and insights you might not have considered.

(I'm unsure why BP isn't allowing me to tag him.)

I took a picture of the hours for my own reference and get chastised by the employee for taking a photo, which is "not allowed at government facilities"....Enough of the rant,  fellow Illinoisans or else where any tips on how to work on government time while trying to hit closing deadlines. 

A double-entry system (like QuickBooks) allows you to reconcile your bank statements, ensuring no missing or duplicate transactions.

Also, for those whose BUSINESS (as opposed to just investment) is STR, they can scale successfully while their experience and knowledge of the industry may allow them the opportunity to uncover and recognize those few opportunities that will provide a much higher than market risk adjusted ROI. 

This, in turn, allows for higher rental rates or quicker sales, directly impacting the ROI.I could remember when an investor purchased an old, three-story commercial building at  a bustling downtown area.