Also, you may have to pay self-employment tax on your rental income using Schedule SE (Form 1040), Self-Employment Tax.

@Lin Ding you mentioned that you plan to refi in the future...the problem is, nobody knows when (or if) rates will go down (and in fact, they might be elevated for a long time).  ...the last time we had inflation this bad (late 70s/early 80s), rates rose and didn't come back down for a fairly long time (years)  --here's a graph of mortgage rates going back to the 70s:  https://fred.stlouisfed.org/se...I think all buyers these days need to be able to live with the property indefinitely at the rate they're buying it at right now. ...If a property doesn't pencil out at the rate it's being bought at, then it probably doesn't pencil out, period.

(Per se, 12 years after graduation now, I still have not paid of my over $100,000 in business school loans.

Passive activity loss (PAL) restrictions are not for bonus depreciation per se, but for an overall loss that is a result of subtracting ALL expenses, including depreciation, from rental income. 

I wish it were in SE TN. 

Shanae,You’re getting input and advice from all across the spectrum, but I’ll take a gander here and offer something a bit different.I moved my new bride to SE Asia 27 years ago to invest our lives into helping poor families.

Not real estate related per se, but I heard about the book first on the BP podcast when they interviewed him.

I would avoid buying cheap properties and trying to get rents that are 2% of the purchase price, specifically on the SE side.

I am originally from Racine so I frequently get down to SE Wisconsin.Initially my plan is to start with a Duplex house hack style in Fond Du Lac.

This is a 3-parcels Land Assemblage on Gresham Road SE, just South of I-20.ASKING:  $650,000Dekalb Watershed has informed me that there is ample Sewer Capacity in this area.