My endgame is to end up with $300k/yr in post-mortgage income in 20 years based on investments I make now followed by continued investments over the next 10-15 years own.

There are areas outside the Tahoe basin with a short drive that can provide for solid short term or long term income streams and still pull in the Tahoe goers.

Absolutely, the passive income from owning rentals is great but I also love getting into big projects and seeing the transformation from start to finish@David Jesperson What city/market are you looking to buy and what type of properties are you looking for, SF, 2-4 MF, or 5+ MF?

I'll put them in order of what I prefer and why:1) Save up the cash using cashflow from my current portfolio and W2 income. 

@Jason Dubon I take the cost of all appliances and divide it by 5 (avg lifetime of appliances these days) to estimate annual cost of appliance replacements.

Tax and Legal ConsiderationsUnderstand the tax implications and legal responsibilities associated with rental income.

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

If you continue filing taxes jointly the income you realize from your separate property will still need to be explained and redacted, regardless of the type of entity holding the real estate.

More on DSCR loans in case helpful: DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

  $950 rent x 12 months = $11k annual rent