Or is there something else that is cheaper?

Depreciation: For investment properties, you can depreciate the property over a set period, reducing your taxable income.5. 1031 Exchanges: This allows you to defer capital gains tax by reinvesting the proceeds from a sale into a similar property.Feel free to ask any questions or share your own experiences!

also remember cheaper isn't better and numbers can lie. 

and seeking some wisdom for a rookie.Interested specifically in Kissimmee/Orlando/Davenport as Disney market feels familiar to me and it’s generally a cheaper entry point than beach condos.Looking at Regal Oaks (staying here now on vacation myself and enjoying it, though have read mixed things about occupancy), Windsor Hills, and Champions Gate.Goal is to have a second home that I AirBnb out the majority of the year but also can escape to when NYC is ruthless (like now :) hoping to live in the 150-250K range, bonus if there’s a pool (regal oaks has community pool and individual hot tubs), and solid amenities.Other than reading for my life, how can I number crunch and prepare for this?

Can I designate a non-spouse (business professional partner without a job) as a real estate professional within the LLC (both of us would be on the LLC) and then use this to offset my W2 taxable income?   

Once you get to around $14k you're going to scale up to $37% but you can deduct half the expenses and depreciation which will reduce your taxable amount of income..again without knowing the income this is not possible to calculate.   

You have to include the capital gain from the sale of the property which will likely put your taxable income above $89,000.Some of the capital gain will be taxed at 0% and the remaining will likely be taxed at 15%Do not forget about state taxes.

Perhaps buy a more modest primary residence and then invest in a small SFR in another, cheaper market OR find a city where you can find a duplex or Triplex allowing you to have a wall separating you from your tenant.

You can also go to the Wyoming Secretary of State website to get the forms and do it yourself for even cheaper.

Again, there are good ones out there but you need to know what a good one looks like, then you need to screen them until you find one.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.