Despite the equity We also want to take advantage of tax advantages we did stay in the property for 2 years !  

@Ming HuangRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Tax structuring and LLC advice you can get for a paid fee too.

Since the trust is a disregarded entity, the benefit is bypassing  probate, not tax issues or liability concerns. 

I also have personal W2 income, if that matters.Is there a loan out there for a set-up like this at 15% down? 

Remember you are exempt from excise franchise tax if you file an exempt form.This post does not create a CPA-Client relationship.

Repairs made while the property is your primary residence are not deductible, but improvements can increase your cost basis, reducing future capital gains tax when you sell.

I assume they collect a proration every month for property tax?

Go straight into focusing on creative finance, subject to, and minimal cash down deals and build from there.I want to hear your thoughts on what direction to take here if you were in my shoes given these constraints (full time job and a few thousand saved) and you want to optimize for passive income first, then value appreciation?