i wish i had better news for you but it's probably not feasible in the short term to replace your W2 income with rental income. 

Interest income is interest income, unless you decided to roll some of the current cash into a self directed IRA at which point your interest income would be deferred for a later time and allow your funds to grow tax free.

We host a free real estate meetup the first saturday of every month if you are interested in coming and meet some awesome real estate investors who are looking to do their first deal to savy seasoned investors.

IMO cash flow provides a way to mitigate the risk of unexpected expenses and loss of income due to vacancies.

@Travis TimmonsI had the same reaction as you did, but I held off on posting since I don't yet invest in STRs (I'm all LTR so far, and looking into my first MTR).Buying an STR "to offset income" makes me nervous as well...

One time I had to use my knowledge and testing practices after a job, and that was because it was a HUD inspired low income grant job for a homeowner.

Hi everyone! I am looking at purchasing a vacation rental in Costa Rica and I have a couple of questions in regards to that.  Firstly, does anyone have an international lender that they would recommend?  Secondly, doe...

An ITIN is often required for tax purposes when earning rental income in the US as a non-resident.Please feel free to PM me with any questions. 

You want to make your investment as passive as possible and using a property manager allows you to do that.

Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?