I like the idea of getting around short term taxes and legislation.

Looking into cash-out refinancing and DSCR loans and all of that but I'm getting ahead of myself as I don't even have the 1 yet lol.Nobody in my family has any experience with this sort of thing so I'm just hoping someone can give me their opinion on if this investment makes sense.The home is currently being rented for 2900 total (all tenants are month to month and have been there about a year each) and my monthly costs would be 1,200 included taxes, insurance, mortgage etc.I am considering putting the home on section 8 because the fair market rent would make my monthly rent 4k+ but I'm weighing the pros and cons on that avenue.From what I understand the biggest costs to me as a home owner would be a new roof or fixing the pipes for any reason..

So PICK the right tenant.TREAT those tenants & the property RIGHT.Consistently enforce ALL elements of the agreement which is of course in writing.Have an attorney to consult with.AS to is it the right time? 

After all expenses I've shown a loss on my tax returns the last 2 years and it wasn't just a paper loss.

I am thinking the following:This would be a wrap around mortgage as I still owe $165k on it.Sale Price $245k (market price)10% down ($24,500)10% Interest 30 year (please tell me if thats a bad idea)Monthly payment based on 30 yr ($1930/mo + tax and insurance) = $2448/moPlease let me know if i left any pertinent information out.Any sleuths out there can check it out. 🤓 (1032 E Tucker St Fort Worth, TX 76104)

@James W.You should hire a consultant to perform a market study to outline what would be the best fit for the land.

Taxes are super low because it's AL.

Yes, he's gotta report that rental income on his taxes.

To secure the VA loan you need w-2 income in same line of work, as it will take two tax cycles to show self employed net income. 

I'd probably get into long term rentals for tax reasons.