@Sean Nava  If you haven't considered a cost segregation study yet on any of your investment properties, you are leaving a lot of money on the table.

Hi my Name is Travandra but you can call me Nicki, I have been studying and trying to get into real estate wholesaling for over 10 years.

Quote from @Brian Felczak: Everything you need to know is available in books, blogs, the forums, and a little time studying.

Quote from @Homero Matzenbacher: Hello Everyone, My name is Homero I am a student at IU Kelley School of Business studying finance.

STRs require more hands-on management, but it’s a viable option for reducing your taxable income without needing REPS.You might also consider a cost segregation study to accelerate depreciation on the rental, creating larger upfront paper losses.

This year is the first year I will qualify as a real estate professional and be able to take some aggressive deductions through things like cost segregation studies.

Based on the value of a property you can likely get away with a inexpensive desk top study such as condos and you will require a more comprehensive engineering study for larger properties like a 4plex.Desktop / modeling options are sometimes good for smaller residential like you mention. 

Study landlord basics, especially on what to include in your lease (going forward you will ALWAYS have a written lease).(2.5 Learn from mistakes and don't repeat them.)

When considering a Cost Segregation study, here are a few things to consider:https://www.biggerpockets.com/forums/51/topics/1206189-cost-...Feel free to reach out with questions!

Study disqualified parties and prohibited transactions.