If you have self employment or gig jobs you need 2022 and 2023 IRS taxes filed and all the pages/1099/w-2/LLC/Corp/personal and 2024 income.

They're going to require that you file a form with them every single year (it's Form 3840) and on this form you need to report back that you still own the new investment property, and that you haven't sold it and haven't received the income from the sale. 

You are able to utilize the DSCR 30 year fixed loan which is no income no doc and can have unlimited .

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $540,000

Cash invested: $54,000

2 unit property

I focus a lot on the income side of things, such as how much they are paid monthly, how long they have been at their current job and/or in the career field.

But you can still treat it as resulting in Ordinary Income even though it is reported on Schedule E, which lets you properly report in accordance with the tax results it seems you are shooting for under the tax return loophole.If your CPA is looking at switching it between schedules to get that tax result...it sounds like they don't understand the reporting position fully and/or they just don't know how to use their own software to address it.In summary, based on what you are describing for the situation, it should go on Schedule E, with what sounds like the resulting refund of $17k.

I am considering opening a business account at JP Morgan for all income + expenses, and simply use baselane for rent collection + higher APR on security deposits, etc.

I am trying to get into the real estate industry as one of my main income sources, however I don't want to take a slow and steady approach as a goal to finally retire comfortable at 50.

While considering raising the rent to reflect the market rate and adding an additional $100 for utilities, I find it challenging as we have built a positive relationship with the current tenants.As for our Studio (STR), I would appreciate any suggestions on ways to optimize the income potential of this space.

You don’t need to make many changes other than filing your taxes differently and just budgeting differently due to the lack of one W2 income.