Refi property in LLC designated as S-corp

[Avi Garg]

I have a single member LLC with a S-corp designation that I use for flipping. I am planning to keep one of the recent acquisitions which I bought using hard money. What will be the tax consequences if I refi this property in my name? I have reached out to my CPA as well.

Wanted to see if anyone else has gone through it in the past and has any experience with this transaction.

[Linda Weygant]

Your CPA will have the best advice for you.  Generally, having a rental property held in an S-Corporation is a terrible idea, but you may be one of the rare unicorns where it makes sense.  Talk to your tax pro because they know more about your entire situation than anybody else and can advise you better than anybody else.