Additionally, I can receive $40k in gifts from my father and ability to access a $20-60k loan from family at 4% APY interest.

Income is taxable regardless if you withdraw the money from your account or not.IMO, taking a cash advance on a credit card is a bad idea.You are likely paying a 3% to 5% fee for doing so along with likely having to pay 20%+ interest.

Thanks to the Cost Segregation Study, the property investors were able to reclassify the property into shorter useful life categories resulting in first year depreciation of $203,600.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

When renting to travel nurses for 3 month periods, are rent payments considered earned or passive income

I live, work, and play in downtown San Antonio and i'm extremely familiar with all the action that is going on in my backyard.Id be happy to meet with you when you come down @Chris Hutchens and anyone else that is looking to acquire additional market knowledge in the San Antonio area.

I do however have a decent sum of money in savings for a down payment as well as would be able to get a parent as a cosigner on the loan to help with income if needed.

Paid $270K for it initially with my HELOC and used an additional $70K from my HELOC to renovate the property.

We use Autohost to automate this process via an online check-in system: https://www.autohost.ai/You can also use it to gather additional information and place a hold on their credit card, similar to a hotel.The one downside of Autohost, is that it doesn't have an automated way to collect the ID for all the adult guests (although it collects names + email from the guest).Finally, Autohost can also be used to have the guests sign your rental agreement and agree to your house rules.

@Jay DeckerThe great thing is that you live within Washington State which does not have a state income tax.You may be required to file a non-resident return with Ohio and Iowa.

Property tax around 200/month and Insurance 130/month.Based on a Heloc at 182,000 when all is done my plan would be to do a cash out refi to pay this down/off and use remaining cash flow + W2 income to pay the rest off.