Unless there is a reason to submit your tax returns, you could go w2-only. 

That's 50k a year gone and you are losing tax write-offs and equity potential.

@Mickael Castillo Are they current on the taxes?

(Loan paydown, tax savings, etc etc..).

The big pro that sticks out to me in Birmingham is the tax rate. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Avoid PMI and then go to a local credit union and get a heloc after closing to gift the money back.Have this as a tool in your tool belt but pursue use of the 3.5% FHA, knowing that you will be at a competitive disadvantage if you are competing with non FHA buyers, then you can call in the favor from your gift person.Just know that if someone gifts you down payment money, your bank will require them to sign a letter stating that it is in fact a gift that doesn’t need to be paid back.

5 Tax Mitigation Strategies Every Real Estate Investor Should KnowAs a real estate investor, every dollar you save in taxes is another dollar you can reinvest into growing your portfolio.

“I’m literally the nation’s leading expert in tax liens and tax deeds,” he boasts in one installment.

For instance, Berea is a charming college town, but the combination of local taxes and less favorable price-to-rent ratios makes it less appealing for investment compared to other areas in the state.Agree here!