Actually, given the opportunity to generate rental income and the potential for risk reduction via diversification, modest multifamily residences could be a prudent investment.Kindly feel free to ask any specific questions or seek advice before starting your next real estate venture.

I always prefer SFR because you can always build additional rooms/ADU to increase rental income and price of the property.

Then have a high savings rate by limiting spending to what you prioritize and maximizing income by focusing on what you know. 

One strategy to consider to boost the rental income is to rent out by the room. 

Choose the right property: Look for a property that can generate enough rental income to your mortgage and expenses, ideally with additional flow.3.

Specifically discuss with your CPA the ability to deduct depreciation expense over time, allowing you to deduct a portion of the property's purchase price as a non-cash expense, meaning you can lower your taxable income and potentially lower your tax liability.In other words, you can reduce your taxes by writing off expenses from your total taxable income.

There is no employment, income, or any debt income show on these applications.

Yet, interest payment on mortgage offsets the rental income (I don't want to pay income tax on rent), and there is a chance of refi later.

I meet all the criteria for material participation and average stay under 7 days so I would be looking at a nice tax deduction against my W2 income.

@Derek HagglofHow much income does the wedding venue produce?