This can be a noticeable additional income, with minimal effort.

And I can buy additional depreciable basis simply by utilizing higher leveraged DSTS. 

I plan to save from my income for about 3 years or so.

You can specify blackout dates when the property is not available for rent if you wish to use it personally during certain times of the year.Legal and Regulatory Compliance: The management firm will ensure that the property complies with local laws and regulations concerning rental properties, including obtaining any necessary permits and adhering to zoning laws.Maintenance and Repairs: Property management firms often take care of routine maintenance and emergency repairs, ensuring the property is well-maintained and ready for tenants or guests.This arrangement allows you to enjoy your second home for part of the year and generate rental income when you're not using it, with minimal effort on your part.

If they make one call to city and they are low to moderate income they willbe provided with a free lawyer more than likely and you are going to be slapped with not providing a nonhostile living environment.

The best choice depends on specific priorities, such as rental income versus long-term appreciation, school quality, and ease of management.

Looking for state income tax free properties and a possible move for myself to a state income tax free state as well.

The total cost of project is more than we can qualify for based on personal income, although our W2 income and credit score all work in our favor.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

Without that statement it is kind of impossible to to report the rental income and expenses on your tax return.