I would define a wealthy person in America as $300,000+ annual income and at least $3 million net worth.

@Ezra Avery you might want to read below to understand Classes of Property/Tenants.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?

There are a few programs that can do second position financing but typically underwritten based on your personal income.

Section 8 is best used as a risk mitigation tool for properties in super low income, high crime areas.

STR income: $170K/year with pool.

I would like to start generating some passive-income and start with some residential properties in my initial portfolio.   

Next goal is $250k in income through my real estate and stepping away from the day to day management of the properties.

STR income: $160K/year.

In 2024, my occupancy rate was 90.2%.Am I missing out on income?

For those of you that have good w2 income and want to take advantage of employer matching (100% return!)