If you want a steady income, go for Cleveland.

As well as having supplemental income from renting out a room.

No property manager needed and you can offset your income with tax deductions.  

Does it refer to the gross income alone, or does it include additional components like cleaning fees?

Hi @Caren Magill - I own a local STR/MTR management company and would be happy to run an income analysis for you as well as give you the pros and cons of holding it as an MTR.

I am very passionate about real estate and see it as an avenue to create income outside of the corporate world.Feel free to contact me on the forum, email, LinkedIn etc.

At this point you would probably want to play more defensively, less risk, accepting moderately smaller gains, and perhaps switching to more passive investments.  

And the general criteria we are looking for are: price <$650k, lot size 5 acres+, (but as much land as possible, bonus if some passive farming income and/or sub dividable) within 15 mins drive of the nearest city / Main Street, location close to holiday rental attractions (rail trail, hiking, seasonal events, public transport etc).A few questions for anyone who has read this far:1.

DSCR loans won't use your income to underwrite the loan.

If my STR property qualifies for the STR loophole then can my long term rental property deductions then be brought over to offset my active income like being a real estate professional?