Secure income from a thriving business as well.

I  Income:  The amount of property you can buy will be dependent on your Debt to Income ratio.  

Would that lower our tax liability from other income we receive or no because this is purely RE and not an operating business?

My only add is to the replace your wife's income part.

Insurance-  we had 18 months of full lost income coverage.  

STR income: $130K/year.

Also due to price increases you can probably cut a better deal on an existing home and probably get better quality too.Normally you'll probably need a couple of years of income to get a loan. 

I am 30 myself income is good and I love my job so I am not looking to replace my income, just looking to invest wisely and build wealth. 

•Verifying the buyer’s ability to repay (documenting their income is key).

For a 2 unit, an appraiser will rely on comparable sales, but an investor looking for cash-flow may care more about income.