@Teahjsia FrazierTo build a portfolio and replace monthly income, consider strategies like leveraging your current home with a Home Equity Line of Credit (HELOC), using FHA loans for low down payment, renting out your current home, using creative financing options like seller financing, private money lenders, or partnerships, building cash flow with smaller deals first, using the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat), minimizing expenses and maximizing savings, and continuously educating yourself through books, podcasts, and networking groups.

However, carefully consider the advantages and disadvantages of continuing your real estate investment career.

One key advantage is the VA loan, which allows you to buy a home with no down payment and competitive interest rates, making it easier to purchase property.As you continue to invest, you can use rental income to help cover mortgage payments or expand your portfolio over time.

I will take what you said into consideration and complete the screening with them.I hope they are a great fit but if not then will continue the search for a new tenant.Have a great rest of your night!

Have your heirs repeatMany wealthy families do this over and over again and pay little to no taxes as their RE portfolio continues to grow.

We aim to create a harmonious living environment by adhering to all relevant laws and fostering a community based on respect, transparency, and continuous improvement.

Remember, networking is essential, and continuous learning is a must.

You could take this time to take a break and qualify for real estate professional status while your wife continues to make great money.As far as the estimating paper losses that multifamily would produce if the strategy is worth it from a tax perspective, you would want to use a cost segregation calculator.

So, my question is that because I am not starting a new FHA, and continuing the one started 2 years ago, do I have to now live in it for a year as well?

This sounds like a cool idea, just continue to see it through!