It ain't over,I may be wrong, but I think you're pitching paper which is a no-no on BP unless you are Pro/plus status snd restrict posts to marketplace.

If both of you are working full-time, you will not get REP status, and not in any way the way you have it planned.

My wife and I don't qualify for real estate professional status. 

With some planning, depending on their other income and dependency status you could pay them quite a bit more and not generate any income tax.

But it's important to assess your financial status, emergency savings, investments, and cash flow requirements before making a decision.

Hey Trace, with your current status you could definitely get what you're looking for in Tampa.

Supposedly first of it's kind in the Miami market that is centrally managed & has a partnership with AirBnB for super host status from what they say. 

For example prop 19 stated fire victims would maintain their prop 13 status but they largely removed prop 13 protection for inherited properties.  

I have rented to non residents whose status was, well, probably not legal. 

Research the market to find favorable conditions, such as job growth, population expansion, and affordability.Assess your financial status and consider different financing options such as conventional mortgages, private lenders, hard money loans, and innovative financing approaches.