What I’m really intrigued on doing is getting a short term rental, mainly because of long term appreciation and I can depreciate the first year and potentially reduce my other businesses income so there would be a tax savings there on top of some monthly income coming in.

But I'm pretty sure I can't find any houses for 20k around here If you want low income rentals stay as far away from NYC as possible.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

The goal has been to get to a passive income place where you stop paying interest have cash flow from the rent money coming in.

We hired contractors to construct the basement unit and turned 300 square feet of unusable space to a $1,000/month of rental income.

No income no doc 

Can't use bonus depreciation but could use accelerated depreciation and get most (not all) of my rental income tax free.

Unfortunately an individual cannot do that and when you seller finance you pay more in taxes on the income than you would a normal investment.

You can create an LLC in the State of Florida online for $135 just visit sunbiz.org. you can then use a title company or get a quit claim deed online and record it with the county government where your property is located.

What I’m really intrigued on doing is getting a short term rental, mainly because of long term appreciation and I can depreciate the first year and potentially reduce my other businesses income so there would be a tax savings there on top of some monthly income coming in.