Our monthly income is just over $20K/mo before taxes. 

Own a $1.2m 4 unit in beautiful SoCal, or a $1.2m 20-unit building in the Columbus, Oh. metro market...would you prefer $7,000/mo in income or $16,000/mo...When you're investing in commercial real estate, appreciation matters, but it is not the sole determinant of value...you can stay trapped in small residential MF in CA where you are limited by market appreciation due to valuation based on comparable sales, or create your own wealth with a value add play in a larger C-class MF property in almost any Midwest market.

You’ll have the stepped up basis and skip right over the state income tax.

A noteworthy tax loophole, particularly beneficial for those yet to attain Real Estate Professional Status, offers a strategic approach to potentially offsetting OR EVEN ELIMINATING the impact of high job-related taxes.At its core, this tax loophole revolves around discerning between passive and non-passive activities within the realm of rentals.

I've had a great experience in DFW personally but have also had clients enjoy the returns from Houston and San Antonio.Are you wanting to invest passively or are you looking to do some renovations yourself? 

., annually or monthly).IRR does not consider the actual dates of the cash flows; it only considers the amounts and the timing (periods) of those cash flows.It's commonly used to evaluate the profitability of investments where cash flows are predictable and occur at regular intervals, such as fixed-income investments or projects with evenly spaced cash flows.XIRR (Extended Internal Rate of Return):XIRR is an extension of IRR that can handle irregular or non-periodic cash flows.

Is it to make passive income?

I invested in my first syndication deal this year for storage, and am now investing in SFR RE notes on another platform this week, diversified in different states, properties and strategies to where I should get a decent return, with minimal risk...and completely passive.

If you have no reserves and have a major problem that makes the rental uninhabitable, you will have no income to fix the problem.

There are all kinds of programs out there that lean heavily on the gross monthly income, credit score, and down payment, etc.