@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

Here is my method I got that has done me wonders, I used the method from Brandon Turners book on managing properties:1.)

There are online platforms like Rentable.com that will handle opening the correct accounts / all compliance tasks related to managing deposits 

Your ability to accurately estimate costs and efficiently manage renovations makes you an extremely valuable partner in any deal.

I can do title research on my own, I've dealt with property management companies, and I've dealt with all kinds of real estate related litigation (adverse possession, title defects, foreclosures, HOA disputes, evictions, to name a few).

The price-to-rent ratios are generally unfavorable, and a shortage of skilled tradespeople and reliable property management can hinder the success of buy-and-hold rental investments.

Unit was rented by some one who was the manager for a about a year and then gave over managing to me.

I love this strategy but it is more management-intensive for sure!

I’ve built a solid network of contractors, hard money lenders, conventional/DSCR lenders, and property management companies that serve as my trusted boots on the ground contacts in Memphis.

Year long lease typically, with subletting allowed to offset summer months cost to tenant.I worked out some high-level math: Assuming there is a 6 bedroom single family house for sale for 800k, and I can rent for 6k/month.Financing: 350k cash, 450k loan @30yr, 3.8%.Assumptions: 7% vacancy/yr, $4000/yr repairs, $10k/yr property tax, $4k/yr insurance, 8% management fee+50% first month rent on new leaseMonth-to-month breakdown: Income: $6000 Vacancy, Mgmt fee, repair, taxes, insurance: $2300Loan PI: $2650I'd take home ~$1000/month.