There are several articles that do an exceptional job of explaining who, what, where, why and how tax payers qualify for the ‘STR Loophole’ listed here:The Short Term Rental Tax Loop Hole: A Game Changer for W-2 Wage EarnersThe Short Term Tax Rental Loop Hole: What Investors need to know The implications on the Oregon and California Coastal STR market is a strengthening buyer pool for luxury rentals in the $750-1.5M+ range.

A HYSA pays 4.5-5%(before rates went down) pre-tax, 3% net tax if you're a high earner. 

As a six figure earner, I am seeking advice and insights from experienced real estate investors on strategies and best practices that were valuable when starting out!

In my area a B class rental might be occupied by family with 2 wage earners each working full-time entry level jobs like warehouse workers.

The other thing that concerns me is you mention that you are both high income earners but that you are “trying” to save an emergency fund.

My husband is a high income W2 earner, and meeting active criteria would put some of our tax dollars back in our pocket.

My family consists of my wife and three kids, and I’m currently the sole earner.

From a personal standpoint I target 70% LTV for any investment I have that way gives me ability to sell it if I need tooI'm Canadian so it a T4 up here and yes I'm I high earner who can handle vacancies if need be. 

If one is a high W2 earner, real estate is not the place.

Wage garnishment , attach any bank accounts , and or vehicles