I’d start with a smaller deal - buy a 6 to 12 unit say - raise money from your social and professional sphere - people who know you - who you have a beer with etc.

If you can rent it for enough to cover the principal, interest, taxes and insurance and still put money in your pocket, plus cash flow on the property you're purchasing, that would be ideal.

He is a realtor that I previously purchased a small portfolio from and therefore had a good professional relationship.

Will they "check themselves" from bad behavior when they see a professional company with professional services, legally reviewed lease, etc. managing their day-to-day?

How is it a tax strategy though?

u can see these homes on my website. also if there is any way to manage it.. if you can figure out how to get paid as a WA resident you will enjoy the same no income tax status you enjoy now.. 

Stay professional in all communication.

A rent payment isn't enough to cover the DSCR payment, HELOC payment, tax, insurance, and maintenance.

How do we minimize taxes on the profit we're making on this first home? 

I would be interested in connecting for the Washington team position for both purchasing agent and professional property management.