Because I'm new to out-of-state investing, I'm just bit overwhelmed with everything that might be required.

Research rates for a payroll service for your employee that can handle your federal state and local employment taxes / calculations Know your federal state local and county tax requirements as well as whether you must have workman's comp for the person or not.

Assuming you have the drive, capability and desire to be more of active investor/player this is what I would do if I had $10,000 to start out.I would first get really really good at underwriting deals …and then find a property that has a 25% amount of equity upside in the deal day one and also a combination of healthy cash flow that can support the property DAY 1!!!.

There are provisions for owner-occupied and non-owner occupied STRs in Sacramento : https://www.cityofsacramento.gov/finance/revenue/short-term-...The latter requires a conditional use permit but I don't see any info about that in the website.

Most lenders require a portfolio of assets to be within the same county.

I work with a handful of investor friendly lenders that don't require W2s or tax returns (lending is based on the property not the borrower) but am always exploring new avenues.

Compared to an FHA loan, a conventional loan with a 5% down payment can have a cheaper monthly mortgage payment.When buying a single-family house, factors to take into account include your financial status, long-term objectives, and required down payment.

I would have to do a 5% conventional loan to avoid the self sustainable test required for an FHA loan.

Are there specific conditions that are required to claim a loss for my wife since she worked on rental properties?

Passive income streams require an upfront investment and a lot of nurturing in the beginning.