Hi @Andy S. 3x monthly rent for income has worked well. 

Here’s why:Affordability: You can find solid properties here well within your $200k–$300k budget.Cash Flow Potential: Indianapolis has a growing population, a diverse economy, and relatively low property taxes compared to some other midwestern markets like Cleveland.Investor-Friendly: Indy is landlord-friendly with strong rental demand, especially in neighborhoods near downtown, universities, and revitalized areas like Fountain Square or Irvington.If you’re open to a strategy involving light renovations, there are plenty of opportunities to add equity and boost rental income here.

Verifying last 2 years of rental history very important!

Part of those cuts included the short-term rental tax loophole, a strategy real estate investors can use to help mitigate their rental income tax by offsetting earned income with real estate losses, and could be renewed or extended.  

@Morgan Vien For your Oregon rental property, forming an LLC in Oregon can provide liability protection specific to that property.

You can Host Finacial revenue tool to get an average of the income.

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

I want to have more rental properties in the future and could definitely use that income to help fund those, but with the interest rates being higher, it makes me nervous.

Buy and hold rental property.

On average, you will spend 10% of your income on maintenance per year.