Why try to qualify for a deal off your W2 income if you are going to STR it?

Many home buyers have to show substantial income to qualify for homes in high priced markets like California.

Like Matthew, I am only interested in the east coast with a 'small scale' new Qualifying Facility where I would retain ownership; ITCs, SRECs, etc. 

Also I can qualify for FHA this way.

Many vendors (for obvious reasons) either wouldn’t do that or didn’t do that so I couldn’t qualify deductions from my income.

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Another thing to consider is if you end up not being able to qualify for a traditional multifamily home, then you can purchase a SFH that has a casita.

@Julio Solano Definitely look for a qualified agent and property manager down there. 

It's a very common mistake where an investor sold and bought properties and then when it's tax time they find out they didn't do the right process to actually qualify as a 1031 exchange.  

You also would need to properly account for all of this.You would want to discuss your specific situation with a qualified CPA to determine if this can be done and if it really benefits you any.