Quote from @Mike Donovan: Found this thread as I am researching Landlord insurance as it relates to student housing.  

But as it relates to buying and owning RE nothing has changed..

I'm relatively new to this and am grateful for any advice from the forum. 

We are only allowed to screen non-tenant applicants for criminal and rental history, nothing financially related. 

Common deductible expenses include mortgage interest, property management fees, repairs, and even travel expenses related to property management.

Costs will seem high relative to the loan amount on these smaller loans, $5-6k in lender fees isn't uncommon. 

In our still relatively limited experience, seller financiers are usually looking to get a higher asking price in exchange for the favor of the private loan. 

You need someone to sit down and evaluate the entity from that standpoint, not just as it relates to income from the property after you got married (and Congrats on the recent wedding!)

As for the third target market, Sacramento is close to you, it's a state capitol, relatively inexpensive, two major universities, great local culture...

As explained above, income from the financed portion of the property in an IRA would be taxed as well, but you can deduct related expenses, including depreciation, to minimize this tax liability; that is why I recommend a discussion with a tax expert to understand what your numbers would look like.Hope this helps!