Buying a second home to rent out is a solid strategy, but be sure you understand the cash flow, including mortgage, taxes, and potential vacancies.

Why ask: A mentor who is actively involved in the market is more likely to offer relevant, real-time insights, strategies, and lessons learned.

2.Are there strategies to reduce the required down payment or secure better mortgage terms?

(Insurance, Loans, Zoning, STR, ADU's, ??

There are so many great strategies to help you scale your portfolio, so I understand your desire to find the right plan and avoid mistakes.

I'm going to have to learn some more about how to better identify the markets that are appropriate for my investment strategy. 

You'll want the rents to at least cover the monthly principal, interest, taxes and insurance (and HOA if there is one).

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

Always keep an eye on interest rates to optimize cash flow and return on equity. if you switch to long term hold investing, you'll want to see if equity stripping is a strategy that works for you. 

Should I use a LLC vs. insurance must have 100,000 posts on this forum.