My only add is to the replace your wife's income part.

Listing them as an “Additional Insured” rather than just an “Additional Interest” will also safeguard both parties.For the LTR unit, your landlord policy should include property damage, at least $500K in liability, and loss of rental income.

.- PM is contractually obligated to perform annual maintenance/inspection to keep property in top shape. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

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

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. 

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

We also looked at it as a place to escape America if we ever needed to and if our jobs went sour, we still had income coming in.

@Justin Brin Yes, you can elect to aggregate your rental properties for Qualified Business Income (QBI) purposes, but once you do, you must continue to aggregate those same properties in future years unless there is a significant change in circumstances (such as disposing of a property).

And as time goes by, rents will increase and your income will look better and better.My first investment in 2004 made $35 more than the mortgage.

Sekisui House, after acquiring MDC Holdings, has become the fifth-largest builder with an estimated 15,000 homes delivered annually.