Before you do so, make sure that it will, in fact, reduce your current year's taxes.

or ways to reduce our expenses on mortgage every month. we both make about $105k each yearly. but with us planning to have kids in the future, she may stop working.Any advise is appreciated THANK YOU!!!

All else being equal, lower mortgage rates reduce the cost of ownership and, thereby, allow more people to afford to buy.

With that in mind, which approach do you think works best:1.Use property management software (PMS) as an intermediary to automate payments and fee splits while reducing legal risk and simplifying operations?

For reference I own exactly one handful (5) SFH  rentals in my hometown, all have been purchased in the last 4 years.1) buying at a discount is MY preferred way to reduce risk.

I'm not 100% committed either way between the income benefits of multifamily vs. the reduced headaches of SFH tenants.

These expenses can create a paper loss, which may offset other passive income or carry forward to future years.If you qualify for Real Estate Professional Status (REPS) or actively manage a Short-Term Rental (STR), the losses can be applied against your active W-2 or business income, reducing your overall tax liability.

I'm a small landlord with one tenant (I have two tenants total) in San Bernardino County who stopped paying rent since June 2020, making different claims--work hours reduced and that he's "having difficult times because his coworker died from COVID".

Using your first property as collateral could help reduce the cash you need upfront, but it’s essential to weigh the risks and it's not really recommended specially if this will be your first.I recommend focusing on building reserves or seeking partnerships to fund flips.

1) cannot qualify for traditional financing2) fears appraisal will come in low3) fears buyer will back out so reduces contingency optionsnote for cash purchase I expect a significant discount.