Palmdale homes are less expensive than Santa Clarita making them ideal for young investors.

Could be...you won't know until you ask around.Try knocking on some doors and introducing yourself and your intentions...get e feel for the neighbors/neighborhood and the dog situation.

Jason E.

Ideally, we want to put as little down as possible to save some $$ for renovations.

Just know it's 75% of the gross rents OR a 1 or 2 year average of your Schedule E (rental income in your tax returns) after accounting for 75% of gross rents.

I am looking for advice on my first str, ideally by the end of January I’m attempting to get a deal under contract.

@Eric MillerThe IRS does not care about the loan product that you have.The IRS just wants you to properly classify mortgage interest as a Personal Residence mortgage interest (Schedule A) vs Rental Property Mortgage interest(Schedule E).Best of luck! 

Hi, I have a duplex rental for 4 years but I have never set up an LLC, so I claim that as passive income on the schedule E.

@Lynnette E. - Thank you both for your responses.

Download a Schedule E spreadsheet or use Stessa.