That's actually an excellent idea .... do you know where I can get more info on how to rent out the land for passive income? 

.: Property managers, how do you collect rent from tenants, keep your management fee, and send the remainder to the owner without it reflecting as if you received the full rental income in your bank account?

It’s a great way to maximize rental income while offering a unique solution to tenants.- Value-Add Investments: Beyond cosmetic upgrades, think about adding amenities like solar panels, EV charging stations, or smart home tech.

Things that could get in the way im putting out there now to make sure no surprises after someone does the work to get me quotes- New York State - Appraisal will barely be past 100k if that- 98% of my income comes from my rental portfolio (thats a new fun rule (to me) I just learned about)- Prefer something without a ton of fees and such.

Here are some financing options to consider:HELOC or Cash-Out Refi on Another Property – If you or your mom have equity elsewhere, this could be a more flexible and lower-interest option.Business Line of Credit – Since the property is in an LLC, you might qualify for a business LOC, which could cover construction costs.Private Money Lender – If you’re okay with 12-15% rates, a private lender could fund this as a short-term loan, especially if the guesthouse will generate strong income.Construction Loan – Some lenders offer short-term construction financing, which converts to a longer-term mortgage once completed.Seller/Partner Financing – Bringing in an investor or structuring a joint venture with someone willing to fund the build in exchange for a share of the income.Credit Card Stacking or Unsecured Business Loans – Riskier but could work if you need to bridge a gap until the unit starts cash flowing.Would love to hear more details—especially your timeline and expected rental income.

We're currently both working a W-2 job with a combined household income of roughly $150k, and searching how to start to our journey to financial freedom. 

You mentioned buying a MTR condo.Is your income below $150,000 or are you able to claim real estate professional status?

I don’t know if I should invest in the Jersey market and put maybe 20-50% down on something, make less cash flow and make more appreciation, or every two years or so maybe buy something fully cash (my own $) in the Midwest let’s say 5-10 units and make more cash flow with no debt as with the income I make I can just save and buy more, don’t necessarily need to leverage in some markets.

Financing your second property can be tricky since lenders may only count 75% of rental income toward your debt-to-income ratio, so get pre-approved early.

By purchasing a multi-unit property, living in one unit, and renting out the others, you can cover your mortgage payments and start building equity while gaining rental income.