More details:Mortgage (principal + interest): $2930/moProperty taxes: $15K/yearHome insurance: ~$1K/yrCost of home ownership/month: $4280/yr (not counting for any tax deductions related to the interest and property tax)If I account for $20K of interest and $10K of property taxes as an income deduction, then I can reduce the cost by ($30K x 35%) divided by 12 = $875 per month = $3400/mo cost of owning the houseRental income after 35% federal income tax + 9.3% state income tax = $2618/month (!!)

I do have a good W2 job and a husband with income as well.

You don't need to show income history or tax statements to qualify.

So much for an LLC protection.Here who is being sued:Federal Trade Commission, andUtah Division of Consumer Protection,Plaintiffs,v.Nudge, LLC, a Utah limited liability company; Response Marketing Group, LLC, a Utah limited liability company, also doing business as, 3 Day Real Estate Training, Abundance Edu, LLC, Affluence Edu, LLC, American Money Tour, Cash Flow EDU, Clark EDU, LLC, Edge 2 Real Estate, Evtech Media North, Flip for Life, Flipping For Life, Income Events, Insider’s Financial Education, LLC, Leading Financial Education, LLC, Onwealth, Power Flip, Prosper Live, Property Education, LLC, Renovate To Rent, Simple Real Estate Training, Smart Flip, Snap Flip, US Education Advance, Vintage Flip, Visionary Events, Wealth Tribe, Women’s Empowerment, Yancey Events, Yancey, LLC, and Your Real Estate Today, a Utah limited liability company; BuyPD, LLC, a Utah limited liability company; Brandon B.

It's a nice/quiet area, so not low income type of rural. 

A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

DSCR loans won't use your income to underwrite the loan.

If you aren't showing income on the property for the year, bonus depreciation isn't necessary.In general, I would recommend splitting the attributable costs evenly between your personal and schedule E. 

This approach not only ensures a steady income stream but also provides a significant community service.As the property owner, you'd likely take on a role similar to a house manager, overseeing day-to-day operations such as grocery deliveries and maintenance, or you could appoint someone to handle these tasks.

If you don't have any debt, a 750+ credit score, and income, you should not have any issues being approved for a mortgage.