The book on tax strategies for real estate investor by Amanda Han and Matthew Macfarland.I read these two books when I first started investing and found the information very helpful.

It's going to offer Strong economic growth, Appreciation (especially in DFW), Tax advantages (no state income tax), and a Growing population, including infrastructure and amenities. 

You are looking at the rent of $2,000 and mortgage (Loan, Insurance, and Taxes) of $18000 and thinking you have $200 cash-flow.

So, the tenant covers just about every operating expense from maintenance, property taxes, and management fees. 

Said it was one of his tax clients & would not give me their name.

At a 37% tax rate, this creates around $117k in tax savings, reducing your taxable income from $700k to $583k.2.

I was just reading Mark's book "The Tax & Legal Playbook" this morning and it specifically had a "critical warning" (page 31&32 in Chapter 3).

>>For purposes of taxes, consult with a CPA to confirm this would work for your situation, but you could have the LLC be treated as a "disregarded entity" and thus, even if you and your wife are members, any profits/losses would "disregard" the LLC and go directly on your personal returns. 

Might be an additional cost there.If units are updated, capex items look good, leases and tenants look solid, and there are no other regular expenses besides the 5200 in insurance/property taxes then I like this deal.  

If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.