I use Stessa to keep track of all expenses and comes handy for taxes.

But there are implications to that strategy so be sure to discuss your specific situation with qualified tax expert as this is not a tax advice and I’m not a tax expert. 

Nevada is a great place to invest because it's landlord friendly, low property taxes, tech job growth, population growth, and no state income tax. 

@Angel M.Please discuss this matter with your CPA, who will likely tell you this is self-defeating.Passive income from rentals is favorably taxed. 

Unfortunately once you head into the suburbs the higher taxes really eat into cash flow. 

@Tyler Ferguson It will be a little easier for your taxes and finances if you create a separate account for all of the property's income and expenses including the personal and rental part.

A lower "purchase price" presumably would help both of us from a tax standpoint, but hurts me on depreciation?

We are not married, but I charge her 'rent' which is a little less than 1/2 the mortgage.Are there any tax benefits to saying she's a renter and I'm the landlord?

@Anthony Warlick at 1.25M at 8%, assuming 75% LTV your payment would be 6879 without taxes and insurance (since that wasn't listed here).

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).