There is zero income on the property right now because the current owners were using it for personal use and/or letting friends and relatives use the storage units and the metal building (for an auto dealership).  

After a transformation, I import information from Stessa (it auto-injects info from banks) into a relational database, run a few queries, and then do a cross-tab query to bring it all together into a report. 

Thank you both so much for the detailed repliesA few questions related to Accounting if you don’t mind1.Do you recommend separate bank accounts for each property, or does a single account work better?

I'm relatively new myself - feel free to reach out to me as well and I'll answer any questions I can!

If you are able to make an age related withdrawal or a loan from your 401k those could be good options since the stock market is currently at all time highs. 

You might also consider forming an LLC to manage the property-related business activities while holding the property in your name to stay within your lender’s requirements.Explore safer rental strategies: If you’re open to short-term rentals, Airbnb’s Host Guarantee provides additional liability coverage, which may offer peace of mind while keeping the property in your name.

Hello Roopy,As a fellow immigrant who navigated similar uncertainties, I can definitely relate to your situation.

You can not partner with relatives or have them do any work on or stay in your properties. 

Deductions related to educational expenses should be repealed.

They can offer fast results with relatively predictable returns.