That's helpful information.

I know that my current cash flow is a result of the unit being my primary residence first, and that not all units will cash flow like this, but can't help the feeling that I should be expanding my rental portfolio over the years.

A VA can help you compile lists of potential wholesalers, manage follow-ups, and even track responses from your marketing efforts—freeing you up to focus on high-level strategy and deal analysis.Hope these ideas help!

What's even more frustrating than asking the IRS help desk, is asking a Turbo Tax "Tax Specialist".

Ok, yes that's a bit cheeky but seriously, your talking about some very important, regulatory/law stuff, if your not willing to do the most simple basic actions of simply googling the laws, and reading through the statutes, I am sorry but than my time and effort has not been earned to help guide. 

@Hiyun Park only experienced investors can DIY everything in Class C Midwest areas like Detroit, Cleveland, St Louis, etc.Hopefully the info below will help you:-----------------------------------------------------------------------------------------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?

PM here - happy to help the BP community with rental analysis, leasing trends etc should you need anything from me - Northern VA and DC.

I used to help managed STR's in Nashville.

I'd recommend looking at costs. your build cost is going to be well over other homes because of the fixed costs like slab, Hvac, roof, etc. check the market drivers and weight the benefits of short term versus long term. long term is no furniture and help pays mortgage but at this size it doesn't really cover everything. we didn't find a lot of economies of scale in single family detached. can you build more than one unit?

you are very welcome and I’m glad to help.