@Michael Vallee @Cara Lonsdale Thanks guys. 

Originally posted by @Cara Lonsdale:The lender will require you to have 6 months reserve for investment properties. 

Since the signs are always on my car, can I write off everything such as all milage and expenses related to the upkeep of the car as a travel expense or am I still required to keep personal millage and business milage on a milage log separately and am only allowed to take the standard millage deduction? 

You really pick up a lot, and one plane ticket, a rental car, a hotel and meals are more than worth it if you're going to buy 10 homes. 

@Cara Lonsdale and @Bilal A. getting a real estate licenses is irrelevant for being a real estate professional for income tax purposes and will not, by itself, make someone qualify as a RE pro. 

We are in a situation where my wife is soon to be quitting her job to focus more on the rental business. My daughter will be getting her drivers license this year, so we will need to add a third car. We could probably...

., with all due respect to those outside of California, as @Cara Lonsdale noted above, California has weird laws aka very tenant friendly laws. 

., @Megan Phillips, @Cara Lonsdale.

@Cara Ocallaghan It seems that your property was continuously "in service as a rental" even though you had an extended vacancy while you accomplished a major renovation.

I had to stop going to school out of panic that tuition would get in the way of me paying the car (as I was constantly being reminded that a voluntary repo would kill my financial future, my chances of purchasing a home, and make it more difficult for me to get approved for student loans etc) I ended up trying to to keep up with payments.