Typically 75% of rental income can be applied towards your DTI for qualification. 

I’d hate to see you walk away from that high an income and regret it.

I am working toward passive income to live off of.

The absolute best way to avoid taxes is not earn income.  

You will earn every dollar you make.

If they get married it will help her earn SS benefits, etc etc. 

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

Jimmy,You need to show (2) years of 1099 SE income in order to use FHA, or traditional financing to get approved for a mortgage.

With that said, the income can still offset the cost of holding the property as a long-term investment.

It is disheartening to witness a mentorship program that boasts substantial financial success, with students allegedly earning substantial monthly incomes, yet fails to ensure that their own employees receive even the minimum wage they are entitled to.