Fortunately, we are in position that we can indefinitely absorb the reduced income that our STRs are producing.Good luck

For example, I have seen many folks part of Bigger Pockets community build their rental portfolio through obtaining financing that they wouldn't otherwise be able to obtain if it was not for their W-2.

As you can see obtaining good cash-flow isn't always simple or easy with all those expenses.

Sounds like the seller may not even have file plans or obtain any variances.

I received wrong information from people in the Portugal RE industry before so I'm not super confident the person I talked to is correct I'm just trying to get more data points.In case it's useful for others these are some other bits of info I've learnedRefinancing is possible but it is more expensive than conventional (usually the spread is 1-2% higher) and it is necessary to explain to the bank what will be done with the money.It is not necessary to wait to own the property for a certain time to obtain mortgage credit.

He obtained a mailing list of 5,000 prospects each of whom had multiple purchases of stock market newsletters.  

A partnership can do 1031's indefinitely, so no issues with 1031s in the future if you go this route. 

And the rest can be deferred indefinitely in a 1031 exchange. 

Due to his lack of communication ability he has to work through third parties such as myself to obtain this critically needed information.

Start by reducing debt, researching Houston market trends, and obtaining pre-approved loans.