If you have a fully paid off vehicle, you won't have the mortgage interest deduction that other taxpayers will have.There is no 'both taxes', there is one income tax form that includes all your income.You will report your rental income and wages on one tax form.

Are you looking to do a house hack or is purely an investment vehicle? 

I am requesting you to share your suggestions on which vehicle i should use to protect below assets.

Likewise, most people understand housing and might participate in syndications and other vehicles when alternative investments appear less attractive. 

One you already started, and that is the passive income vehicle.

Agree with the previous poster that a trust might be the most appropriate vehicle. 

I want to earn money and be able to afford a vehicle and a home of my home but I live on $1100.00 a month...literally.

I can probably sell one of my vehicles for another $10k.My idea was to put an apartment in the basement and rent out two units or live in one and rent the other. 

In contrast, a passive investment in a syndication is not a prohibited transaction.Also, buying tax-favored real estate in a tax-deferred vehicles can often result in you paying more taxes in the long run. 

There will be off street parking for at least 2 vehicles probably 4.