That's more than half a year of income, plus you are probably paying management fees.

I thought it would be as simple as adding up all of my losses  from Schedule 1 - Additional income and adjustments to income line 5 over the past few years. 

There's also a 3 bay garage for storage that could provide some extra income, it's very near to a lake.

I picked up a 7 unit, all in 150k, with about 30k YES 30K net income on about 53k gross.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

In this case there seems to be missing income/expenses(living expenses) not discussed?

My plan is to build passive income over the next ten years by scaling a real estate portfolio that I can manage once retired.

What do you show for income on your IRS returns?

I prefer multi family because they offer multiple income streams, usually higher rent per square foot compared to single-family homes, and are more likely to appreciate over time due to inflation and rent increases.I would recommend Columbus, Ohio.

If your wife can qualify for REPS, that would help tremendously since you are a high income earner.