However, having a high-income earner with a spouse willing to qualify as a real estate professional is a well-documented strategy to save significantly on income taxes.

You can Host Finacial revenue tool to get an average of the income.

So I do currently have income from my rental properties, however it isnt enough to cover our current costs over here for the next 6 months.

., overall portfolio stability or income growth).Be cautious when setting pay expectations.

@Joe Gellenbeck Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Quote from @Mordechai Chaimovitz: Can someone please explain to me why people are buying 2 flats that rent comps show $4,600 a month in income for 665k+?

Meet with a local banker & schedule a time to talk with a mortgage broker, they'll give you at least a baseline of what kind of down payment options and rates are out there.After that, if you're still wanting to research more creative options, do some looking into seller financing (a very hot topic with good, and bad, advice out there), look into private lenders, and commercial financing options.If you're wanting to live in 1/4 of your quadplex, then conventional residential loans may in fact be your best option as you can purchase that with a fannie/freddy loan with very low down, and use up to 75% of the income from the property toward your own income. 

Take the proceeds and invest in a highly trusted Syndication or fund and enjoy the passive income.

This aligns with my interest in passive income.

To determine price range, the first step is always figuring our how much you are pre-approved for; and that can vary significantly when you are looking at multi-unit properties because of the additional variable of rental income that can be included in qualifying.