But I would be passing up on a big promotion that could lead to significant increase in income. 

Then my passive income would solely come from stock investment.2.

It's the boring places that probably won't appreciate above the rate of inflation that will provide real month to month income. 

For example, require a minimum FICO score of XXX, gross monthly income X times the rent, and verifiable income for the last X years.

In some cases, federal tax credits like those for low-income housing or economic development might also apply if the project aligns with certain goals.Instead of buying the land outright, developers often lease it from the tribe, which can reduce upfront costs and sometimes come with favorable lease terms.

@Victor Yang To use the rental losses to offset any active income (W2), you'd have meet Real Estate Professional status (which would be difficult to do with a W2 job because you'd have to work more on real estate than any other job to qualify) OR have an AGI of $150K or less.

I would suggest getting another full-time job for the time being and investing/doing STR on the side until you can fully and comfortably replace the income that you would be receiving from your job.Is your LTR in need of repair?

Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

Over two years, I built up 12 doors, which now generate about $100k in net income annually.

@Brad Kanouse Using Traditional IRA funds for an investment property typically incurs income tax and a 10% penalty if you’re under 59½, as investment properties don’t qualify for tax exemptions.