@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.

Hence the scariest word's in the English language; "I'm from the Government, and I'm here to help".... 

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

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!

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. 

Because you are self servicing your loans most are not legally compliant with consumer protection laws and CFPB requirements such as sending statements on a monthly basis that have all the language the CFPB requires as well as each state may have additional requirements for sending out just a simple statement.

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.)

How many folks with complicated entity structures sign contracts containing broad obligations to indemnify and hold harmless don’t even read the language because “it is standard”.