We also bought another one in August of this year that we will be moving out of in March and it will become our 3rd vacation rental.So I use QuickBooks self-employed to track my first rental and I have a bank account dedicated only to that property.

@Paul RumoloIt looks like you already got some solid advice.First you need to determine if your rental activities will increase your taxable income.If they will increase your taxable income - you may be required to make additional estimated taxes to the IRS/States.You can do so by making quarterly estimated payments or ask other sources that already withhold on your behalf to withhold more.For example - if you work for an employer and they withhold $500 for ever $2000 that you make; you can ask them to withhold $600 instead of $500.Obviously - It may be hard to calculate by yourself - you may want to reach out to an accountant for a more precise answer based on your specific scenario.

I feel relatively confident the PM is employing these methods.

None give you everything and you still need to learn how to employ them all in your RE investing toolbox, how and when (!)

I figured the drawback with state university is that it is not a major employment base, as opposed to a hospital and medical school where nurses, doctors, med school students, would, presumably reside near a hospital setting. any potential drawbacks/downsides for this scenario vs a home near a university?

I think demographics will play a big role as will employers willingness to make remote work easy and flexible and acceptable once Covid is past.

We’d hope to employ the BRRR method as properties around here are pricey.Questions:-If we go the ADU route how might we be able to leverage it in the following year or two to purchase another property?

Zillow employs over 50 Data Scientists: https://www.linkedin.com/search/results/people/?

You'll need two years of tax returns as a self-employed person for a conventional loan.

Things, like how much money to invest, how long you'd like to invest it, do you need it to be relatively liquid, is it self directed, how much you make a year, your age, are you W2 or self-employed or retired, what other assets you have, there are tax considerations, and so on.Ask a local friend or a local tax preparer if they know of any qualified and honest financial advisors.