We don't have state income tax here in Texas, but they are still sure to get their money!

Talk to your CPA about how to structure this as a failed investment or something to offset your w-2 income.

For example our bridge loan product is ok with your debt to income being to high at the time of purchase as long as the debt to income will be low enough to qualify once you rent (or sell) your current home. 

The pet fees alone add a lot of additional income year after year. that alone is worth it to me.

...I wouldn't.To make matters worse, the property isn't appreciating (because it's in a low appreciation market, or even a depreciating market), and the tenant pool is primarily made up of people with bad credit, low/no income, and a history of property damage at the previous places they've rented.

I am open to many different ideas and opportunities, ultimately I just want a peaceful getaway in the Offseason but a place where for the other ten months of the year could be income generating.

Net income = $39,240Monthly operating expenses are as follows: Trash - $33, Landscaping/yard - $66, Electric - tenants pay, Water - $95, Maintenance $87Monthly taxes about 3KSo, gross expenses are at $41,064If I'm doing the calculations correctly, my net operating income is -$21,888 and cap rate is -3.4%.Obviously the current numbers look terrible for this investment, but I feel like the rent should be raised significantly based on comps (above 2K each unit). 

This way, you can maintain your privacy while still benefiting from rental income.

Hi all,I am on a H1b visa W2 income.

If so, does the rental income give you any extra cash flow, or at least cover the large majority of the mortgage/expenses?