Can I form a LLC to manage my own properties?

[George Wang]

Long story short, I would like to funnel all the rental income from my properties to my property management LLC and pass profit/loss onto me after deduction. I am interested in doing this because I can potentially expense my MBA degree when I otherwise can't.

Does anyone have any legal / tax opinion on this? Is this doable?

[Ashish Acharya]

George, I doubt you can expense your MBA degree under property management unless you have many other employees and you establish the plan the mostly benefit the employee. Only 5% of the benefit can be to the owner of the S- corp.