With an estimated annual revenue of $59k, it consistently ranks in the top 10% of Airbnb listings in the area, outperforming similar properties by 17%.

@Marc Zak Using an LLC for each property provides strong liability protection by isolating risks to individual assets, with income and expenses flowing through to your personal taxes on Schedule E.

This will help attract more business to the state, keep it coming! 

My plan is to funnel the rental incomes from all three properties, along with my W2 income, back into the HELOC while covering all expenses from it as well.

Furthermore, whole note investments benefit from an additional 0.5% annualized yield and are entitled to a share of any extension fees charged to the borrower."  

That being said, every FHA loan has UFMIP which is 1.75% of the loan amount, as well as monthly mortgage insurance pmts that are about 0.5% of the loan amount annually.

A 2,000% return or 10.8% annually. 

Quote from @Victor Yang:In addition, is it possible for me and my wife to gift 36k worth of equity per year of the house (under the annual exclusion limit) and therefore have none of the costs go towards the lifetime gift limit?

But my experience over the last 10 years of building new homes is that NOTHING comes down might stay the same but will rise almost annually Like Cement always goes up in Jan. 

The income requirement was $6000.