You still claim the income as miscellaneous income and deduct property taxes and mortgage interest (subject to SALT and other high mortgage limitations) on your Schedule A, but that's it.2. 

Financial freedom isn't simply about replacing your current income, because inflation continuously drives up prices, making a fixed income insufficient to maintain your standard of living.

This reminds me of the discussion around pricing things at $x.99 instead of $x+1.00.EXAMPLE: $4.99 instead of $5.00Everyone "knows" that the price in the example is basically $5.So, why do billion dollar companies, spending more on marketing departments than everyone's combined income on this thread, STILL use the $x.99 pricing format?

Buying a mobile home to place on your land can be a great way to generate rental income, but like any investment, it comes with pros, cons, and key considerations.On the pro side, mobile homes are typically more affordable than traditional single-family homes, meaning lower upfront costs.

It doesn't book as frequently as the smaller house, but generates more income.

If you prefer to stay local and build equity, house hacking a duplex or triplex in Fort Lauderdale could work, especially if you can add an STR component to boost income.

@Dan PoratI am looking block by block at the household income and agree with D to C depending on exact address.

We are not focused on the passive income at this time as both working W2.Questions:1.

If your goal is passive income, it's not going to be in New Jersey when you factor in cost to purchase, management costs, and rent to price ratio, but what you can get is steady appreciation.

REPS does not relate to STR's.For short-term rentals (STRs) with an average rental period of seven days or less, you don’t need REP status to offset losses against other income.