@Pretty Khare As Ruben and John mentioned above, you can utilize a cost segregation study on your STR property to reduce taxable income (or create a taxable loss) to offset against your W2 income, but you need to ensure you are following the IRS guidelines very carefully.

Well, do they have a job to pay that extra $200 plus utilities per month?  

Over all, a portfolio of DIVERSIFIED (as to residential areas) properties utilizing a buy and hold strategy should provide an adequate risk adjusted return without utilizing any other “opportunistic” strategies to “gig” the ROI.  

For example, temporarily stopping utilities to their unit during a repair or if there will be loud noise or a major renovation on the premises. 

Please provide a forwarding address prior to moving out, and be sure to cancel/transfer any utilities out of your name by the move out date.

@Jonah Hartsburg The FCRA says you must establish and implement written policies and procedures regarding the accuracy and integrity of information you furnish to a CRA.

I manage each property personally, which has provided me valuable experience but also highlighted the need for a more formal structure as I plan to expand my portfolio.My PlanI'm looking to establish a Wyoming Holding LLC that will be taxed as a partnership.

Utilizing this strategy with FHA or Conventional loan products.Although sometimes the 4 units can be hard to find sometimes you can compromise and find maybe a 2 unit or 3 unit with 4 units.

This is a large established corporation so I'm not concerned, and most of my application questions wouldn't make sense.

You can focus on properties that have strong rental potential to generate steady cash flow, helping you pay down the mortgages over time.Once you’ve established a solid cash flow and built equity, you can scale by adding more properties gradually.