Estimated costs range from $500–$1,000 annually, depending on the complexity of their LLC and rental activity.For Partner 2 ($148K joint income, W-2, 1099 income, 1 rental, 2 kids), a CPA is strongly recommended.

The lease would establish income, which can be used for loan qualification purposes.

Rentals generate passive income, so an S-Corp offers no added tax benefit.

@Ali HamadeSince your property is ideal for house hacking and generating rental income, targeting an investor-friendly audience is a smart approach.

Lenders will want to know if the property is generating income and if it qualifies for a DSCR loan or traditional financing.

I don't know about you but I am constantly on the hunt for consistency, consistency of income, of deals, of productivity, in my relationships...so that's my focus in all things not just real estate.So my vision to your question is a a state of total consistency of income and deals.I'm focused on the basics, which to drive me is even more specifically "making offers."  

If you wanted to diversify you could use the income and purchase other properties, slowly add other properties. 

@Brenden Sperl - Can you clarify you rental income?

@Ryan Dori lots of options besides DSCR. 1 Year income, Asset Depletion, Bank Statements, and P & L only loans. 

Owner-Builder Construction Loan (Challenging but Possible)Some lenders offer owner-builder loans, but they usually require:✅ Strong financials (good credit, assets, low debt-to-income)✅ A solid construction plan, budget, and timeline✅ Proof of prior experience (renovations help, but formal experience is a plus)✅ A licensed contractor or project manager to sign off on the build2.