Likely, you will research a bit and maybe start and stop or never get started at all and that is fine maybe even optimal for you I do not know.  

If the owner employs a management company, then the management company is required to obtain the business license - not the property owner.according to the tab (Profits Tax) on the same page above, I should NOT file form RD-108 either to pay KCMO city earnings tax, because I am a passive investor, and not actively involved in the management of my property.The problem is that, I did submitted my business license application a few weeks ago (still in the process) before I checked the KCMO web side.

You have to make your own decisions but paying down a mortgage while borrowing to buy furniture is usually not optimal.  

What's the most optimal way of doing it?

You could analyze the interest expense differential if you wanted to geek out but this is mostly going to be a behavioral decision up to you, no right or wrong only what's optimal in your case.  

This rental property will be designed with a keen focus on generating a healthy cash flow.Project Blueprint:Budget: Allocated at $200,000, covering construction and all related expenses.Focus: To merge energy efficiency, durability, and tenant comfort with cost-effective construction strategies, making the rentals both affordable and sustainable.Location: Currently scouting – I'm open to suggestions and insights on ideal locations supporting this vision.Strategic Planning:Efficient Design & Planning: I'm considering compact, multi-functional layouts to optimize space usage and incorporate cost-saving construction methods without compromising quality.Sustainability & Efficiency: The plan includes investing in top-notch insulation, air sealing, energy-efficient systems, and sustainable materials to reduce the building's carbon footprint and operational costs.Budget Management & Cost-Saving Initiatives: Careful budgeting and exploring value engineering options are crucial, alongside seeking out grants or incentives for energy-efficient building projects.Community & Sustainability Goals: To create shared amenities to foster a community feel and implement systems encouraging tenants to monitor and reduce their energy consumption.Seeking Community Insights on:Cost-Effective Building Strategies: How can I ensure the project remains within budget while achieving high sustainability and efficiency standards?

As a specialized real estate CPA, I'm here to provide expert guidance on your most complex tax matters, from navigating 1031 exchanges and cost segregation studies to optimizing your rental property deductions and handling multi-entity structures.

I haven't had time to really look into it.https://flippingmastery.com/web/fs-jv/?

But you payment will increase and depending on the interest rate it may not be optimal. 2.

They're the pros, after all, and they can offer tailored advice, ensuring you're not only correcting the mistake but also optimizing your tax situation.Good luck, and definitely consider getting professional advice to navigate this.