@Ari Bildner, your expense numbers look pretty good.

The real estate in Alaska is fairly expensive so I’ve been thinking about doing out of state investing.

New dish washers are not that expensive. 

I am searching for a software to view all my properties( income, losses, expenses, cap rate, etc) under one roof.

What are your experience with the different types of income and expense report published by NAA, ALN, IREM?

I know all the rules of thumb for residential real estate--the 1 or 2% rules for cash flow; the 50% rule for expenses; 5-10% for vacancy, capex, and property management each; $100 per door for cash flow; etc. 

I know it sounds counter intuitive, but you can increase your passive income by claiming everything legally possible as capital expenses. 

It saves the expense of ever getting a subpoena requesting that we provide all email related to a certain item; if you do not have it, you cannot provide it.I suspect your response contains simple facts and conveys no opinions. 

The other factor to consider is I would lose the HELOC on the house which I have used as my reserves should a large expense (like a roof or furnace) arise.If anyone has done something similar, share your story. 

All this means is that IF your AGI is under $150k AND your rental generates a loss on Sch E  AFTER accounting for depreciation, expenses, ect....ThenThat loss will be allowed to offset your earned income.