I realise that being born in Canada and moving from the UK (again more in my profile) may make things difficult for me for a number of reasons but I am hoping that BP can shed some light on things I need to consider when investing in Texas.

Could you shed a bit more light on the tax treatment of Schedule C vs E in this type of scenario?  

@James Stinnett ok well that definitely sheds some light and sounds like he’s right in there so thank you very much for the input!

and I have encountered something that seemed odd in the process, so I was hoping you guys could shed some light. 

Hi all,I am new to BP and just starting to research how to start becoming a buy and hold investor under extremely limiting circumstances and was hoping the BP community could shed some light on the best financing strategy to use for my first few properties.Current Financial SituationA little background on my current situation: I am 28yrs old working in television in NY ( making roughly 55-60k a year- yes it is brutal) I just bought my first primary home 2 years ago in Williamsburg, BK to lock in how much I’m paying for housing year over year in a place where incomes don’t increase as fast as rental prices (2 bd for 340k (this is an HDFC which is how I got a home for this price in an area where the median price is 1.5 million) ) so obviously my DTI is extremely high at almost 60% with no other debts besides my primary home (I also have a roommate who pays me $900 a month for her room which helps with about half my total monthly housing costs) (had a great mortgage broker that really helped me wiggle in to my first home)I now have about 75-80k in equity in the home and access to a family trust with a similar amount of money in it and was looking for the best way to turn buying an initial first property all cash into the ability to buy more properties( out of state of course- looking at different areas in the country from PA to TX to TN to FL).

Once a landlord gets into leaving "a somewhat decent bottle of wine" and any sort of Martha Stewart branded product for a tenant (@Jill F. you made me laugh out loud), I just have to throw up my hands and walk away from all this aspirational parvenu nonsense.The very best wine I've had in my life was sold for ten euros for a 1.5 liter PET water bottle of it out of a big old glass νταμιτζάνα in my second cousin's buddy's shed on a tiny Greek island you've never heard of.

I'm wondering if there is a tool that I've missed to shed more light on that particular area.

@Mark Cruse I'm not the sharpest tool in the shed so can you please clarify your post.

All of this is to say that there is still a needed market there, however it will need to be more than just a tin shed. 

or other governmental entities (including health agencies) have educational materials that may shed some light on the problem?