🎙️ Welcome back to another insightful episode of The Physicians and Properties Podcast with host, Dr. Alex Schloe.

💡 What if growing wealth together didn’t just strengthen your net worth—but your marriage?

In this episode, Dr. Schloe sits down with Dr. Michelle Downing (anesthesiologist) and her husband Patrick (attorney, civil engineer, and full-time real estate investor). From a $36K foreclosure to a diversified portfolio of long-term rentals, beach short-term rentals (self-managed), and a triple-net commercial property, Michelle and Patrick show how aligned goals, clear roles, and smart tax strategy can accelerate freedom—without sacrificing family or values.

They break down the real talk of investing as a couple: communication rhythms, choosing markets, building systems, and using real estate to buy back time for what matters most.

💥 What you’ll learn:

✔️ How an MD + JD/engineer “power combo” divided roles (vision + integration) to scale faster
✔️ The couple’s buy box: location first, cash flow first, value-add next (and when to walk away)
✔️ Short-term rental playbook: self-managing from afar (OwnerRez, dynamic pricing, AI messaging), pet/kid-friendly amenities, and photo/listing upgrades that actually book
✔️ Tax levers explained: STR “100-hour” route, real estate professional status (REPS), cost seg, and bonus depreciation—plus what to document and what to avoid
✔️ Triple-net basics: why an absolute NNN can be “mailbox money,” how they underwrote a sell-leaseback, and buffering vacancy risk
✔️ Investing as partners: decision frameworks, conflict prevention, and using projects to teach kids entrepreneurship

🔥 Key Takeaways:

✔️ Cash flow first; tax benefits are the cherry on top—not the reason to buy
✔️ Vacation markets > anti-STR cities; you can’t fix location
✔️ Documentation protects you: time logs, calendars, receipts, photos (audit-proof your strategy)
✔️ Systems create sanity: tech stack + local team = sustainable self-management
✔️ Build the life you want now: design for time freedom, family experiences, and legacy skills

If you are a physician couple ready to align your finances and your future—while learning how to invest, self-manage, and protect your time—this episode is your roadmap.

🔗 Connect with Michelle Downing & Patrick Andres:

• Website
• STS+ Coaching

If you want to learn how investing in real estate can give you the freedom to practice medicine and live life how you want then check out the links below:

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Website
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