Please note that I operate in European Union.

@Andrew PettitGenerally BRRRR connotes rental real estate (as opposed to flips, developments, or operating businesses).I'm curious if there's a disconnect between you and your CPA. 

@Tom KellerI can speak to what I know which is Multifamily.The beauty of Multifamily syndication, which is a turnkey model for the Equity partner/s, is the team aspect of it.A syndication team allows you (Active or Passive) to work in your field and continue to make $ while the team of operators run the asset/business.  

Assuming the 50% rule for operating expenses such as vacancies, management, capex, incidental repairs, etc, you're still short as your mortgage would need to be $850 just to break even.  

As I imagine a lot of others have done, it all started with reading "Rich Dad, Poor Dad" and quickly changed my mindset on how I want to operate financially.

All real estate markets operate in cycles and if they are in an area that is experiencing rapid growth in the upswing part of the cycle then perhaps you might be able to show them this information.

One opportunity is to utilize my spare time in the mornings to operate a small roadside service business in my area as a means to obtain additional investment income.

There are a lot of operational expenses that easily add up to 40-60% of the rent.

It a turn-key operation.

My understanding is AT LEAST, if you're going the LLC route, you need to file in every state.You create the entity in any state and then foreign file everywhere else.B&H investors need a business license to operate the rental(s), but flippers may be different per state.