With $150k here you’re just a little tight on budget but can make it happen if you self-manage and do your own furnishing and design.  

However if you are self managing, that is work. 

Spend a little more money than you might have been planning to, buy in a better area (i.e. not a “turn key” 100k house off the mls), and self manage.

It could vary of course depending on the defenses of the tenant and if the court is presently backlogged.

I hadn’t heard about interest going back to self tho! 

If you go back to work as self employed, there are some NonQM programs out there that can do a cash out refi after just 1 year of bank statements or P&L. 

Seriously though, if you haven't already get your self a solid real estate-focused tax professional in your corner.

We self manage our properties, but we provide maintenance work for others rentals and pretty much all the property managers around here are mediocre. 

Many online courses are self-paced, so working on it in your spare time is absolutely doable.If a career shift isn’t your goal, you can still learn the "game" through various other means.

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance