Last thing you want is this space rental that brings in a small amount of revenue increasing your vacancy on the duplex.

Budget up to 600k, yearly revenue potential atleast 60k and upwards.

Revenue property?

But, from a revenue standpoint, with the management fee (unless its you), it doesn't meet my 8 to 12 year payback. 

Do I have to wait until I can show revenue before I can take deductions? 

STR property managers will charge from 15-25% of revenue (gross not net).

You will not get taxed until you start earning revenue. 

@Titus Hill, happy to help you run some reports (revenue,occupancy) to help you figure out which communities and home types you would like to target.

You also spread your vacancy risk out a little - if one of three units is empty for a month that’s a 33% loss of revenue as opposed to one of 10 which would only be a 10% reduction.Another thought for you if you have the cash saved up to buy multiple houses with cash - have you considered investing passively in a syndication?

Hire a company to do it for you - This will usually run you 20-30% of topline revenue (which is crazy in my opinion) and the quality of their customer service is rarely worth paying for.