Value being in an area where homes are selling fast, appreciating in value, and the comps in the neighborhood match your "magic number", what youre looking to sell property for one day or rental amount. 

Look at factors like job growth, population trends, and rental demand.

When your rental produces a loss in excess of income (AGI) you have a passive loss.

I'm so glad to have found this online community and resource to help me get started on my real estate rental investment.

Vacation rentals are among the best investments of my lifetime.

I am based in NJ but I feel nothing will cash flow or be too sustainable unless I put in a higher downpayment.I am looking to do only long term rentals and keep it with Multi-family units in the beginning and then advance to appreciation type properties in developing areas.I was thinking if I should save up more money for a larger down payment or possibly look at a different area to invest since I am NJ and the high property taxes make this hard unless more capital is put down.

If you perform a cost segregation study for your short-term rental property, you would typically file Form 3115 (Application for Change in Accounting Method) to claim the depreciation adjustments from the previous year without needing to amend your prior return.

Don't be afraid to negotiate, particularly if you have a lot of rentals.4.

I have been looking into carwash, storage units, multifamily rentals, and other ideas.

Fix and flip, BRRRR, turnkey rental?