You can write off expenses like taxes, insurance, etc.

Looking for a CPA/tax consultant.

I agree with prior comments it all depends on what market you are in. 

I like Tahoe Reno, NV market because of the appreciation growth, low taxes, landlord friendly, and constricted supply. 

Checking most recent tax year for tax prorations, instead of most recent mill levy (big difference since taxes went up 30-35% last year, $10k screw up I saw in real life by a buyer last year)3.

Make sure that you have enough cash not only for the down payment, but also to cover the costs of closing, origination fees, property taxes, insurance and so on.

The lack of evidence of prior repairs despite the seller's disclosure raises serious concerns about the integrity of the transaction.

The general investment profile of recent investors are second home or vacation home buyers, typically from out of State or area, and looking to take advantage of the diminishing benefit of the 'STR Loophole' of accelerated depreciation to offset high W-2 wage taxes. 

Every lenders rate stack is different, so unfortunately only your lender can tell you how many points it'll take to buy down the rate.Break even point = (difference in cost) / (difference in payment)If you think you'll refinance or sell the property before the break even point, financially it typically doesn't make sense to buy down in points (however, consider tax benefits if it's your primary as you may be able to write off the up front points -- which is considered pre paid interest).In you scenario (assuming a 30 year loan), the difference in cost is $3150 and the difference in payment is $52.

I stumbled on some information about short term rental tax benefits as it pertains to lowering W-2 Income.