Six figure income is still impressive for any residential SFR..optimally rates improve and so will rates of return with a refinance.

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

Hi @Andy S. 3x monthly rent for income has worked well. 

Investing in multifamily properties offers steady cash flow, diversification, as multiple tenants reduce vacancy risks and provide consistent income.

I'll put them in order of what I prefer and why:1) Save up the cash using cashflow from my current portfolio and W2 income. 

While short-term rentals in areas like Kissimmee, Florida, can pay for themselves and offer lifestyle benefits, the ROI typically doesn’t match what I see from my traditional portfolio of long-term rentals in North Texas.That said, short-term rentals can still be a great choice, especially if you're drawn to the area and the opportunity to combine personal use with investment income.

Most (not all) HELOCs require that the property is titled to an individual (not LLC) and are full doc, meaning your employment history, income, DTI etc will be factors.

Yes, you may lose out on income in the beginning when first trying STR out, but you'll never know until you try. 

It would depend on your income, location and price of the home. 

Does not affect your debt to income for future loans in the mortgage industry (auto loans could look different, but i would think similar so hopefully no worries there).