Do you have the passive income to use for offset?

While the new property may bring in additional monthly income, the increase in your monthly net may not justify the amount of new debt that you would be taking on.

I am self employed and try to minimize my W2 income. 

My debt to income ratio isn’t great considering my current mortgage

I’m a W-2 employee in a high income tax state.

Has been working well from 2008 onwards till date, but you should have capital and should have alternate income to support the property expenses.

I want my income to go towards something I own.

Is this rental income just added on as income during filing in addition to my income from my main job?

If you held them less than 1 year you would pay at your income tax bracket but if you held them over a year you would pay LTCG (Long-term capital gains) which for most people is 15%.You'll always be able to add money back into a brokerage account regardless of whether it's the LLCs or your own.Hope this helps

If you get a signed lease for your rental home, your lender will be able to use that rental income as qualifying income for your loan to get your househack.