Unless you qualify as a Real Estate Professional (which has strict requirements), your rental losses can only offset passive income.

Luckily for me the state of Florida has state level protection which bars municipalities from passing new or amending their existing laws.That said, I am seeing cities like City of Saint Pete crack down and are enforcing their laws for the first time in years.  

I'm curious as what y'all consider to be the minimum criteria for approving a tenant, assuming you don't have access to professional tools.

My day job is being a financial professional, so I have good experience with underwriting and sales that I believe can be translated to real estate.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@Victor Yang To use the rental losses to offset any active income (W2), you'd have meet Real Estate Professional status (which would be difficult to do with a W2 job because you'd have to work more on real estate than any other job to qualify) OR have an AGI of $150K or less.

Class A apartments have numerous amenities, professional management, and sit in desirable neighborhoods.

If you plan to expand your portfolio, forming an LLC can simplify liability protection and operations for multiple properties.Consult a CPA or legal professional to confirm your tax obligations and evaluate whether an LLC or umbrella insurance aligns best with your investment goals and risk tolerance.This post does not create a CPA-Client relationship.

After seeing the power of financing and understanding how loans can help make real estate deals like this happen, I knew I wanted to be a part of it professionally.

Readers should seek professional advice.