If you're weighing between purchasing a primary residence and renting spare bedrooms versus buying the entire property, which is more tax write off advantageous. 

Income Verification - Paystubs, W-2s, Bank Statements, Tax Returns.

🧮It sounds like you have these priorities for your next PNW property besides the standard FI road map:- Something that has positive ROI (appreciation + cash flow + tax deductions + loan paydown) purchased at $1M with 20% down and ~6.8% interest.

In fact, the rule of thumb in the industry is called the 50% Rule: that 50% of the rent will go toward non-mortgage expenses (vacancy rate, repairs, maintenance, insurance, property taxes, management, accounting, etc.).

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

We need some general input on getting started from the ground up with a decent amount of money to initially invest from the current tax year.

I've also filed my personal 2023 tax returns and have those available with the STR income included.

The trick will be to find one that has enough rental income to offset the taxes so you can make some money.

If so, this is not the gain for tax purposes.

You will have payroll and tax filings.