My goal for this post is more about getting advice/insight from people who have already done it.

- Run a cost segregation study on this property in 2024 and you might have $100k on line 18...Without diving too deep on this post - If you run this scenario as a real estate professional while materially participating in the property, You'll be able to reduce your's and your spouses taxable income that year... 

The data @Devin Conley posted is pretty solid from my experience (I do not know Devin nor how he sourced the data, just going by my own investing experience).  

Only 5 of you from OH posted?

Hope all of that makes sense but post more if you would like. 

Using a HELOC for the down payment on the second home might be an option, but lenders may require you to wait a few months post-closing on the multi-family before approving new loans.The BRRRR-style approach could work if you can renovate and refinance quickly, but make sure the timeline aligns with your lender’s requirements.

The numbers you mention in your post are confusing - like $150k annual income from a rental property.  

We’re focusing more on quick flips that match our strengths and allow us to continue delivering value to the community.This post is a reminder that every project teaches us something, and we’re always learning to better serve our buyers and sellers.

@William Fishergreat question thanks for posting, I was just looking around for posts that were related to this.

After watching some of the podcasts and reading posts I am set on starting my real estate journey utilizing the house hacking strategy.