I am certainly not a tax expert, but fwiw, I just looked at my closing statement from the purchase of a Brooklyn multi-fam and as purchaser, I paid the following taxes:Transfer Tax Additional Transfer(mansion)taxTransfer Tax Supplemental NYC(mansion)taxMortgage Tax 1st mortgage

In addition, once you get a viable plan in place, you may consider running the strategy by an actual tax attorney rather than a CPA.

.-5% down payment credit where RTR pays 5% of your down payment allowing you to keep more of your funds for other investments and increase overall ROI.

For additional reference, I live in TN.

Work with local banks, credit unions, and loan brokers who know real estate deals.

The property cannot be valued in the traditional way, which is why I'm seeking a private lender who will value the property in a commercial-style method via the cap rate.Source of down payment funds: Implied equity (refi)Income Source: W2 for both my wife and IGross annual income (between the 2 of us): ~$300kMonthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: Student loans, rent, and what exists for this tiny house.FICO: 725Credit issues: noneThanks for reading this far!

If it's done right and the layout makes sense you recover your money on the added value of the house, not in the monthly additional rent.

I'd like to check into using a property management company for my first property, then I'll add it to my second.

Looking to take the next steps in finding, funding, rehabbing, and flip or holding additional properties. 

Additionally, getting in with a local broker helps as they can shop around for you.Umbrella insurance is pretty cheap to add on in my experience, so I think it’s worth it.