@Kenny BaoTypically, larger properties are sourced through brokers.

First of all @Diana Teng, have you ever gone to a restaurant and asked "is the food here worth buying?". 

How are they sourcing deals?

Or is the PM also sourcing the deals?

Are there any tips you might have on sourcing great deals, deal structure, and how to know whether LTR, MTR, or STR is the best route to take?

.🥡 Las Vegas’ Chinese Food Scene Shines!

I thought there was a chance that one could use real estate to directly lower their main source of taxable income (such as a w2).

Akron is a very blue city and are not very landlord friendly - source of income protections, etc... 

Given the property is located in the Poconos and the property is vacant more regularly as an STR there are proactive measures  you should  be taking such as making sure there are heating sources so that the plumbing does not freeze and ensuring there are no blocks in the plumbing lines with routine checks.

That being said, your typical cost of capital is as follows:EquityAgency debtBalance Sheet local lenderDebt FundPrivate DebtPref EquityHard Money DebtBookie/Loan SharkOther things that will impact capital sources: are you wanting to finance the improvements, or will you pay for those from equity/cash flow?