Also be aware of Unrelated Business Income Tax (or UBIT) on leveraged real estate inside of an IRA.Or better yet, since you are self-employed - go with a truly self-directed Solo 401k plan, which would be a much better option and will help you avoid the UBIT on this investment.

We will both keep our W2 employment for the near future just looking into getting an extra income or make our retirement easier.

I’ve been researching options like offering fully furnished rentals for traveling professionals or executives, especially with major employers expanding their footprints in the region.

The biggest employer shut down about a year ago and 3  hurricanes (2 major) hit directly in the last year.

Hello Kyle,When screening applications for the properties that I manage, I always look for:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)I have found this screening standard very helpful when finding tenants who pay on time and treat the property well!

Spacious common areas and a quiet neighborhood.I’m drawn to this tenant group because traveling nurses often make great renters—employed, responsible, and in need of temporary housing.

I do not know how they are handling new customers verse the Midland existing customers.Regarding the customer service it seems the people I dealt with are still employed and only my "personal rep" as it were, was promoted and another took her place.

Another thing to note is that if you’re self employed with no full time W2 outside yourself and a spouse a solo 401k is exempt from UBIT on leveraged real estate.  

Additionally, you may wish to speak with a CPA as to whether or not becoming an S Corp is the right decision – they can assist with reducing self-employment taxes.

Before buying or renting in an unfamiliar neighborhood, you should check the following two sites: SpotCrime, AreaVibes,These sites provide valuable information, including Livability Scores, which cover aspects such as crime rates, employment, health, housing, schools, shopping, and more.well, anything can happen anywhere.