In reality the more expensive the house the less the work.

@Travis GuttingAssuming you are trying to keep things low-budget, here are some options:Driving for Dollars – Look for distressed properties and contact owners directly.

My CPA was unsure... do you issue 1090-NEC for the difference between 1099-K and 1099-MISC or do you double up the income (i.e. 1099-NEC for gross rents from PM, 1099-K of the net owner distribution on 1099-K, then owner reports double income and puts a line item expense for the 1099-K since 1099-MISC covers gross rents).You need a new accountant lolPM issues 1099-MISC, not NEC for rental income paid to property owners.You would still issue the rental income paid to the owners regardless of the payment method.The Property Owners should add an expense line item on Schedule C stating that income reported twice on Form 1099 to offset any duplicated amount.

I understand why it is extremely expensive down there too.

From what I hear it is low, but still there.Keep in mind your loan will likely get sold, so you need to do more due diligence other than what a loan officer is telling you.

Adding a single small unit is very expensive development.  

The cost is really expensive for QBO.

You can also use some low-down payment mortgage products to continue buying in your back yard while house hacking and renting to others. 

Tended to leave off some categories of expenses completely5.

My client's living room is completely unbalanced and odd looking because this wasn't done, which I had to hide with some fancy drapery "magic" that was expensive.