Let us say you want to have a Section 8 rental, then first try to define what you can afford and where is that money will come from.

I have been treating the rentals as a hobby.2.)

I am looking at Carrollton ga to invest in long term rentals either SFH or small multifamily.

Everything I bought is up 2-3x and last year I had net rental income on my taxes of $86,000.

Concern: NYC’s strict landlord laws, high purchase price would tie up capital & be in less desirable area, would likely not cash flow (not good when I leave)2️⃣ House Hack in LA – Move back, get a small multi-unit, and offset my mortgage with rental income.

In 2015 I bought a home in a neighborhood 3 mins from UCF, college rentals ended up on both sides.

But your entity doesn't own that rental property; so reporting it on a partnership tax return can potentially create issues as well. 

I get a copy of everyones driver's license.Hotels don't need you to sign some ridiculous rental agreement.

50k to 60k gross rental income?

Own and just keep it as a rental longterm/short term rental?