Metro, the rising median household income and population growth in the D.C.

I am 30 myself income is good and I love my job so I am not looking to replace my income, just looking to invest wisely and build wealth. 

Wife and I are both self-employed so acquiring a traditional mortgage is challenging based on our "on paper" income.

., overall portfolio stability or income growth).Be cautious when setting pay expectations.

Otherwise, it’s treated as a partnership requiring Form 1065.Get an EIN (Employer Identification Number) from the IRS (free) for tax and banking purposes.Separate personal and business finances by opening an LLC bank account and keeping rental income/expenses distinct.Consider an operating agreement, even if not required by state law, to define ownership and responsibilities.Liability protection: An LLC helps shield personal assets, but you may still need landlord insurance and an umbrella policy to cover lawsuits and unexpected claims.Tax strategy: Rental income typically passes through to your personal return (Schedule E).

Our plan is to use the "Sneaky tactic" and for the next few years, the plan is to buy a house that needs a little TLC, fix it up as we live in it and move on to buy another house until were tired of doing it or reach a decent income.

The IRS has a guide on rental income and deductions that might help: IRS Rental Property Tax Guide.2.

Like someone else said, some income is better than no income for many people.

It's seen quite a bit of growth and development, the income is also high around that area. 

It's also worth speaking with a local real estate agent to identify the best neighborhoods for rental income potential.