If you rent it out for more than 2 or 3 years and then sell it, you have to pay cap gains on the profits.I'd also run the numbers on the house to see what you'd get for rent and what all of the costs are associated with the house (property taxes, insurance, repairs, vacancy as well as mortgage payment). 

For rentals not yet showing on your tax returns (like your Nevada property), many lenders will use 75% of the monthly rent to offset your PITI. 

Make sure the rental income comfortably covers your mortgage, taxes, and other expenses.

I am not shy about it on BP and routinely point out the differences between Turnkey promotional companies earning referrals and Turnkey operating companies who earn on the goods and services they provide.What you described in your question is different than most turnkey promoters and different than rent to retirement. 

That will help you make the decision.Between your BAH and tax free 2 of 5 years primary residence you just have to breath to be a $1mm in 10 years.  

Hi, I am seeking advice on what kind of entity I should form for tax lien investing. 

I have used him for over 20 years and has been great but I want to make sure he is not missing any tax benefits for STR.

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.

We as a firm have investors working with us who have rental properties all over the US big and small.Finding a real estate-focused tax professional and one who can help with advisory and grow with you would be my suggestion to focus your efforts on finding.

Property taxes here around around $10k/yr so around $800/month.