Fourth, what are your long term plans?  

There are a couple of "elite" property management companies in Memphis.Multifamily: I scan the market quarterly to keep an "eye" on things. there was a 22 unit in a desirable location for +2m and a 64 unit for +6m.

You may also owe self-employment tax.If you're earing income all year long, and not having anything withheld like from a paycheck, you need to make quarterly payments.

Hey mate,Future predictions are solid for real estate IMO over the coming years.Lot's of pent up demand waiting for the Fed.Many folks with locked in low interest rates aren't selling, and many wannabe buyers can't get the desired loan amounts due to high interest rates.So we are in a stale mate for now.If Fed loosens grip 3rd or 4th quarter, I feel the flood gates might open and activity starts again.I don't believe the market will decline if interest rates are cut, quite on the contrary.Micro market trends are very different to macro.Online stats/demographics don't reveal what happens from a micro market standpoint.I could give countless examples of zip codes in Ohio experiencing population growth, gentrification and appreciation.The overall population might be declining but again, on a micro level some pockets are booming.Thanks and much success

With a bit of decor and management savvy you can easily be in the top quarter or even 10% without needing to build a waterpark in your backyard and bring in influencers for your photos. 

I am a house hacker just north of Boston and I've got 2 duplexes since I started about 3.5 years ago but honestly, I'm not sure how feasible a third or fourth would have been in that time period.

I noticed that for last quarter of 2023 I didn't receive rent from the housing authority.

But you are talking essentially making three living quarters. 

I won't say what my W2 income is but I will say I expect to save over a quarter of that of that amount between fed and state taxes. 

I would assume non-profit organization would always pay to the landlord, but some organizations would pay quarterly.