According to online that town doesn’t seem like it’s growing.

Hey Hemanth, You can structure this on a portfolio loan with partial releases allowed, as long as the portfolio can debt service at 1.00 with the total income and expenses from all properties remaining. 

@Tyler Ferguson It will be a little easier for your taxes and finances if you create a separate account for all of the property's income and expenses including the personal and rental part.

There isn’t much information online about this niche, can someone please help me out? 

I believe the one that does my tax mentioned using scorp due to our income but i seen its not advised to put real estate under scorp

I am looking for guidance on how to handle the first income property as it relates to getting the loan and LLC formation.

I want to utilize my marketing skills to get into the industry and familiarize myself while making my income.

At the end of the day, it's just another job if you're not building assets.I'm looking to use real estate to build assets/wealth while using higher STR rental income to pay off those assets.

Depends on the situation if it will be successful or ignored: how long has the property been on the market, how many other offers are incoming, how many showings have they had, what time of year is it, how motivated is the seller, etc.

Because non-passive losses can offset non-passive income/ active income.