The growth in San Antonio is moving north and the builder incentives will benefit a new investor like yourself.

Realistically, there should be no benefit, and there are probably some disadvantages, of doing what you propose.

Getting the federal return correct is the most important and with owning two properties, there could be some positive tax benefits.

Jim your also describing one of the huge benefits of being a transactional RE Broker ..

If there's a family member or friend in a similar situation, and you can both align on the initial plan (location, home type, price, usage/occupancy, etc) you can pretty easily get a co-ownership agreement in place and even a joint mortgage.The benefit here is it might open up your ability to buy a larger place in a nicer area which could lead to a faster rate of appreciation and overall better living environment. 

And the passive loss rules may prevent you from getting a tax benefit if your rental deductions are more than your rental income for all of these options.David OrrTax Modern

My strategy is to hold it long-term, leveraging the steady rental income while benefiting from potential appreciation.

I want to spread out whatever “wealth” we have into other properties that could potentially benefit us.

It will familiarize you with the basic terminology and benefits.

With completing a 1031 exchange into a more expensive property, their depreciation table would reset as well, providing an even greater benefit.