For me, my main goals were to be close to my job (5 miles away max) and to reduce my "rent" to 30% of my net monthly income, the property I chose met both of those goals.

So the tenant you have reduces your living expenses.

This can be a powerful way to reduce taxes if you like the idea of offering vacation rentals.Putting properties in a trust is generally not a way to reduce taxes,  unless it is a Charitable Remainder Trust. 

However, the max DTI for IDHA is only 45%, which could significantly reduce your buying power. 

Likewise, contract rates and per diems for nurses (I'm using the term nurses generically) are being reduced in many areas or contracts cancelled mid-contract.

If I don’t hear from you in the next 10 minutes, I will assume you aren’t attending and I will move on to my next appointment.Using this system as dramatically reduced any wasted time I used to endure as part of the showing process as well as giving me data about their timeliness/responsiveness/respect for others' time.At the showing, I collect their completed application (sent via PDF prior or filled out on premises), scan their photo ID and last 2 pay stubs.Then, I do some digging around online (social media, court records, Google) and if it looks like they are representing themselves to me accurately, I contact them to set up a "contract to hold" meeting - usually the day after the showing since qualified applicants need to be "closed" ASAP.

This takes a little more work, but it's the most fair and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.

Unless you find an angel investor/partner, etc. the only way that comes to mind immediately is to work the other end and reduce expenses so you can generate the savings. 

Reason being is they are being overbuilt, and when the # of visitors goes back to normal but there is a lot more inventory, those who bought early can easily reduce their prices and still cover their costs- those who bought at inflated numbers cannot reduce their pricing, if they do they will be cashflow negative.

That being said, typically a refinance of property in a syndicated situation is used to either (1) increase the current cash flow by reducing loan payments through either a lower interest rate or a longer amortization, or (2) increase the principal amount of debt so as to be able to distribute capital (tax free) back to the passive investors.