Believed that they are under-valued at the time, considering the location and STR income potential.How did you find this deal and how did you negotiate it?

Or, am I gonna have to tough it out longer until I'm generating monthly income?

Income/cost analysis.  

Great, only one state return or possibly none if you are in a state without an income tax.But if your properties are scattered across multiple states, there are more state filings and more work.I think if you want to get valuable feedback from people who respond to your post, you want to ask how much someone pays and potentially how many properties they have.Best of luck!

For most of these markets, the rent-to-income ratio, a key affordability metric, is already above 30%.

See disclaimer about various headaches above.4) One day in the future, do the reverse to put them back together.The above structure would generally be income tax free given the distribution or contribution of property from a partnership is typically not a taxable event. 

Zeke, This is really dependent on how much $ you can qualify for, if you have the income history to be able to qualify, and what location you are looking to invest in. 

And it’s been a great income producer since!

You may be able to claim losses against your W2 income as a result of depreciation deductions that you can claim. 

(You’re hopefully collecting a little higher than market rent with a $200/mo option income kicker.)