We aren't necessarily concerned about a monthly profit on our first 10 or so as we are thinking these would be held for at least 10 years.So, a question we have about 2 houses - House # 1-smaller,good area new roof, new window, no basement, no garage, monthly income $140, $6000 left in debt to heloc..........House #2 - larger 4 bed, 2 bath, forclosure, estimated rehab 40k, estimated monthly income zero, zero debt to heloc........ higher value home.  

I am glad you mentioned to lending aspect of not having the W2 income.

It connects my airbnb and VRBO calendars, offers automated messaging, smart lock integration, cleaning calendar/reminders, and offers pretty good income reports.

Another way to look at it also is if you have a rental and you can increase rent by $100 and sell it in a year for a certain value, are you better off selling it today at another value or holding it for another year and collecting income?

Bought it furnished to rent out as an airbnb to utilize STR loophole to offset W2 income (husband and I are high-income earners).

Here is his 2 cents:"If you manage the properties yourself, then yes, it is subject to KC income tax.

Remain dedicated to your objectives and keep learning as you go, regardless of whether your emphasis is home hacking for passive income, using the BRRRR approach to generate wealth, or flipping houses for rapid cash.Please feel free to join in conversations and ask questions on BiggerPockets—the community has a plethora of expertise. 

The question you should be asking is1) What type of liability exposure would I be generating and will an LLC or Corp be suited for that.If you don't plan to own the property, I can't anticipate a piece of paper causing much liability, if any at all.2) What type of income would the tax liens be generating and would an LLC or corp minimize the taxes.

If they don't have documented income or so, you're out of luck.

On the application I did put a deadline for all applications and income verification.