Other than that, be sure each quote covers what you need for a multi-unit, like liability for tenants and coverage for rental income loss.

@Alex Guerrero The #1 mistake persons make in considering HOW TO SELL is using tunnel-vision in looking at just 1 of the parameters, Cost To Sell. 

What is your partner's vision in 1 year, 5 years, 10 years from now? 

If you're interested in digging deeper into some of these options, especially in the real estate sphere around Austin or Phoenix, I'd love to share more over a coffe chat.Take care,PatTurning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

We calculate gross income as all dollars coming in except taxes.Our clients gross revenue is the room rate (top line) expenses minused out and then they receive their net income.Net profit (or loss) would be then when they subtract debt service, property tax, insurance, utilities, etc.

( Not sure if that's the correct terminology.)Whatever loss I take in the first year against my wife's income, does doing this change my rental income from being passive to non passive income as well?

Welcome Scott,There's a ton of useful resources here on Bigger Pockets from calculators designed to show profit/loss to seasoned investors giving advice.

And always remember evictions can cost typically 2X-5X than CFK's - But your time is the most valuable LOSS in this all!  

What kind of loss are you talking? 

So the financial institutions get a better return  on there losses.