A small multifamily property is a smart choice for a first investment—it offers a great balance of income potential and manageable scale for someone new to the space.Don’t worry about being ambitious; it’s clear you’ve done your homework, and you’re already ahead of the game by setting a clear goal.

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

Find the best property you can afford that also can produce enough income so that your monthly out of pocket expense is equal to or less than what you'd pay in rent.

Take the proceeds and invest in a highly trusted Syndication or fund and enjoy the passive income.

It's usually someone with a high W2 income buying a primary then doing Mid-Term or Short-Term Rentals with an ADU. 

There are areas outside the Tahoe basin with a short drive that can provide for solid short term or long term income streams and still pull in the Tahoe goers.

If you are sole member LLC you just take a distribution from your business account to your personal account.You are likely already reporting the income on a schedule E.

You may find this a viable option with rates where they are, especially if your rental income continues to cover the mortgage.Home Equity Line of Credit (HELOC): If your property qualifies, you could use a HELOC to access the equity without disturbing the current mortgage.

County earned $75 grand on that one.

If you need current income, I'd recommend another fix/flip.