You have to network, and listen, and show up at the right places, at the right time, seek out the right people, put yourself in the right positions. 

So it can be deducted even if it’s a 2nd position on my primary and not a first on the rental?

It's not a mind-boggling salary, but it's enough, and the economical decision would be to move into a LCOL area and thrive.

Hi Jethro-Great question and position to be in.You purchased a primary home last year with a substantial down payment at 7% interest rate. 

I think a lot of things can be a value add depending on how they're positioned.

Normally, people open a S Corp instead of an LLC so that they can pull a salary from the S Corp and save on taxes.

the only way that would bother me is if it was a flip and it was going right back on the market then thats an issue.. if the property numbers still hit your target returns the 10k will be long forgotten 10 years from now when the property has been positive cash flow the whole time and has gone up 20 to 30% in value..

If things are orderly and generally neat, that's definitely a positive signal.

If possible, consider partnering with someone who has a higher credit score or stronger financial position.

Does it make sense to purchase a $600k home on an $85k salary?