I don’t completely understand how I could best put my money towards a rental property or fund one with the income that I am making.

Regardless, you might find the copy & paste info below helpful:)--------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

From experience, I’d recommend getting pre-approved, improving your debt-to-income ratio if needed, and researching local assistance programs.

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

I think the real estate professional strategy works if it is your primary source of income.   

(I REALLY can’t stand state income taxes.  

Additionally, the borrower no longer has any income coming from the subject property during these proceedings.  

If they pass all of the checks and have the proper income then they have a shot at moving in.

Absolutely, the passive income from owning rentals is great but I also love getting into big projects and seeing the transformation from start to finish@David Jesperson What city/market are you looking to buy and what type of properties are you looking for, SF, 2-4 MF, or 5+ MF?

It doesn't matter what your rental income is.Anyone could buy in your neighborhood and make a STR.