While you certainly can (subject to the contribution limits), your ability to make deductible contributions to an IRA is limited if your AGI is too high.

That being said, I'm not a fan of holding property in anything sub B quality. 

I would highly recommend looking into syndications!

And therein lies the risk of high-leverage.  

These rates can get very high, but access to more lending unsecured if needed. 

@Tayvion Payton here's some useful info:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.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?

Quote from @Jed Butikofer: Unfortunately, it takes money to make money.With high prices and high mortgage rates, cash flow is difficult to find and we may not see a return to the 2018 market for a while.

Buy low sell high..

I updated the kitchen with high-end appliances, installed custom cabinetry, and added modern finishes throughout.

That way, there is some type of cushion to help against any high usage months, should they just happen to use more than your previous tenants did, or if you unfortunately get tenants who abuse the "utilities included" opportunity.