There was no tailored strategy on the best way to save taxes by investing in real estate or otherwise.

Remember to save some money for capital repairs.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

Tax and Legal ConsiderationsUnderstand the tax implications and legal responsibilities associated with rental income.

You also don't have to pay state tax on income. 

This can save thousands annually.  

For your $2M property, a cost segregation study estimates $316K in first-year depreciation (compared to $28K with standard straight-line), potentially saving ~$117K in taxes at a 37% rate.

You can always use a software like Turbo-Tax and follow the prompts.

If you can rent it for $2,000/month, after fees, taxes, and potential maintenance costs, you’d still make a decent passive income.

I'm looking for you advice with my overall strategy and garner any experience you might have to save me from learning the hard way.