Having the property on your tax returns will help to wipe the mortgage expense with proposed rental income, making it easier to qualify for your next primary residence purchase.

My question is how do most people make the jump to the 2nd STR property if you're generating $25k per year on the high end? 

You may have to wait until the first 4-5 generate enough cash flow to buy the next one. 

Exchange now at 500k over basis into income property with lease back and put option for 300k more. 

@Tim RogersI believe there are income limits that if you exceed specific income (cannot remember the number) it greatly reduces or zeroes out any deductions from a REPPeople a lot smarter than me can confirm

Hello all -I have been thinking of getting into realestate investment for a while with a goal of generating income stream (today my only income Is through my job - I make decently as a senior exec). 

Everything I bought is up 2-3x and last year I had net rental income on my taxes of $86,000.

It can still qualify if it's a fixer-upper, as long as the rental income from the property can cover the debt service.

It’s not for everyone.I built a 12-door portfolio in Detroit, generating $16,000/month in gross rents, and I’ve seen the good, the bad, and the ugly.

If you want a more accurate price you will need a scope of work easily generated with AI as well and submit to a GC.