How the taxation will change after moving to LLC?

That being said it costs you nothing more or less to have it at the ready ... especially since all docs for the purchase need to be in the same name... the offer, the earnest money deposit check, the contract, &c.If going a different route, the purpose  of a legal entity is often for protection of other assets or for taxation issues.Take your pick among all; but first decide your course.Much success.Bob

My background is in real estate taxation and have been investing in rentals for over 7 years.

@Kathryn Chapman Do you have a CPA that specializes in real estate taxation?

The main con of C-Corps is this double taxation.  

Taxation and again if anything specific with being a foreign national?

@Billie Jo this was more about creating a management co to receive "management fees" that would be established as a S-corp for purposes of employing me and some family members that help me with the business so i could write off employer's portion of FICA taxes and have an ability to purchase group health insurance through the business. my properties are set up in regular LLCs that pass income to me personally as S-corps have double taxation. at least it was my understanding of the tax side.  

Feel free to reach out if you have some questions on the taxation.

And then what happens is the lender "discovers" that five figure transfer tax at the last minute, and only then does the consumer learn that the basis for them picking that "lower closing cost" option was completely bunk!

However, 2022 is the last year to take 100% depreciation.Capital Gains Tax at SaleWhen the asset is sold and the partnership is terminated, initial equity and profits are distributed to the passive investors.