What Russell said, house hack your way to the next property.

This would also eliminate the need for gas at the property as you can go all electric in the buildingI am not sure on the cost per se.

I just have 5 units and am doing other work to help pay the bills in addition to doing all the property management myself (upkeep, repairs, cleaning in between tenants, mowing, finding & interviewing tenants etc).   

Rehabbing properties and building a portfolio of rentals are two avenues I’m considering to get started.

These types of properties are easier to come by, often better priced, and can increase your overall rent for the property. 

W-2, 1099, etc.) with passive income/loss from my rentals (STR, LTR) is to meet the IRS requirements for Real Estate Professional Status or REPS (this also requires material participation in addition to specific requirements to be considered a REPS).Very unlikely that you will qualify for REPS with only an STR and a local property manager.

If the seller gave instructions to his agent to not present any offers under full asking price, then the agent is obeying the wishes of his principal.Sounds like you can’t afford the property.

Also, if you intend on buying this property as a single member LLC you may not even require an EIN.

I recently went under contract on a property through my wholesaler.

I've been considering a property near one of my kid's colleges that is  currently a multifamily. 3 units: 2/1, 1/1, 1/1.