Readers should seek professional advice. 

Readers should seek professional advice.

It sounds like the reason you wanted to do this was to achieve Real Estate Professional Status. 

After seeing the power of financing and understanding how loans can help make real estate deals like this happen, I knew I wanted to be a part of it professionally.

Readers should seek professional advice.

While you have mentioned that the tenants’ frequent texts are annoying, it’s best to stay professional and set boundaries by letting them know you’ll update them when there’s progress.

One strategy you can use is to continue what you are doing and house hack and rent to traveling professionals. 

Readers should seek professional advice.

My goals are to start building an investment portfolio of professionally managed (I could tell you all the reasons I will not do it myself) multi-family properties and, in time, develop a property in the Northwoods (Wisconsin/UP).

@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.