Over the past few weeks, I’ve been reflecting on my future goals, particularly my path toward financial freedom.I’m 22 years old and just got my first credit card two weeks ago, so I don’t have a credit score yet.

Good luck with your future plans.

Depreciation helps reduce the taxable rental profit, potentially bringing it to zero or even creating a loss, which can carry forward to offset future rental income or other capital gains.For high wage earners, other tax strategies could include leveraging cost segregation studies to accelerate depreciation on rental properties through bonus depreciation, taking advantage of tax-deferred exchanges (like a 1031 exchange), or maximizing deductions related to property expenses (mortgage interest, property taxes, insurance, repairs, etc.).

In my mind, the agreement would look loosely like this: The option buyer pays an upfront fee to the option seller, giving the buyer a right to buy the property at any time between now and a certain date in the future, for a set price.

(I would still get a heloc to cover future expenses and have available for emergencies.)401k loans are not taxed, do not report to credit, count as owned assets from your lender, and the interest you pay on them goes back into your own 401k!

How would I market this in order to appeal to future tenants4.

For BRRRR investors, seasoning requirements can significantly impact your ability to quickly recycle your capital.While most lenders require you to hold the loan for at least 6 months (aka "seasoning"),Fabulous 5BUY - short-term bridge financing to help you with investment property acquisition.REHAB - With up to 100% rehab financing, you can stay liquid through renovations.RENT - Tenant in place or future tenant.

I’ve been saving that extra income for future property expenses or emergencies, so I don’t have to dip into my personal funds.I also earn around $130-150K annually from my sales job, though sometimes I feel anxious about whether I deserve this income or worry about losing my job.

As you mentioned, having a couple of rental properties as a safety net can provide steady passive income, especially in times of uncertainty or if you decide to slow down in the future.

That impacts me negatively now (compared to 6%), but supposedly was to prevent IRS questioning/audit in the future.