Two (2) parcels in a manufactured home area, acquired through tax deeds and sold on open market with owner financing.A 2/2 condo acquired from the Forclosure action on the courthouse steps.A senior community 1/1 condo from a wholesaler.A senior community 3/2 SFR also form a wholesaler.All have proven to be profitable.

We’re interested in purchasing the property and want to acquire the redemption rights by purchase/assignment of the junior deed of trust.

I want to scale but am unsure of the best way to acquire a 2nd property.

Numbers are more doable in the Midwest where you can acquire units for a lower cash and might get 1% or more of return.

I recognize the simple answer is talk to a REI friendly CPA (which I plan to do), but I'm curious what others have deducted to less their own tax bill if they just acquire a couple LTRs over time. 

You definitely can Alex, you can even use conventional loan and entity can be under a LLC and acquire an investment property.

Plenty of personal debt used to acquire/rehab the properties.Property 1: Cost85K Rehab30k ARV170KProperty 3: Cost147K Rehab70K ARV285KProperty 2: Cost60K Rehab15K ARV130KI’ve been making all of the payments for our personal obligations on time.

It didn’t skyrocket but I was able to sell the property for 50k more than I my cash outlays to acquire the property.

etc.As others have mentioned, if you have to spend and borrow approx $200k to acquire the property and bring it up to snuff, and the ARV is only 200k, then there's no equity--not a good deal.

Acquiring an education and knowledge is often beneficial before putting something into practice.