After accounting for social security and other investment income like IRA/Lifeinsurance/Stocks (of which was made possible because of real estate cash flow)  my mother would be classified as part of the1% and earns a corrsponding Passive income.  

There's room for flexibility depending on the desired tax strategy.Once you have more than a few properties, you'll want to consider software.

I earned good money as a server and simply used it to go on my next adventure and that was all I really needed.

And most importantly I have the desire and the why!

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

Gino Thanks Gino, Hi Matthew, without being able to do separate deeds, the 12 plex would likely be the most cost efficient but you will also need to consider the layout of the overall property, where as two 6 plexes may lay out better and more functional, and therefore attract a higher rent and desirability.

Exciting news: RentRedi, one of our valued Pro Partners, has earned a spot on the 2024 Inc. 5000 list.

Show them your desire to learn, your hustle, your hard work.The only other way they will mentor you is for $40,000.

The question is how you plan to handle the loan after this period.With the lower rate (6.375%), your interest-only payments will be more affordable, and you'll still have the flexibility to pay more toward the principal if desired.4.

Insurance premium determinations  are more localized where the carriers price perceived risks into their desire to have market exposure (if at all) and how to price that exposure.