This is especially important when owning rental properties or managing flips because it minimizes your personal liability.However, many people stop at forming an LLC without considering the potential tax benefits of electing S-Corp status.

How accessible is the sponsor?

Stop reading and start organizing.Buy more properties.

Their previous lease includes a portion of storage in the basement with laundry access(also in basement).Current set up: tenant occupies floor #2 with separate access to the basement for their laundry and storage.Future plan: reno basement and remove storage/laundry access for tenant.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

"What do you mean I can't get API access to the MLS?!")

@Jordan Ray stop spamming this thread.

or ways to reduce our expenses on mortgage every month. we both make about $105k each yearly. but with us planning to have kids in the future, she may stop working.Any advise is appreciated THANK YOU!!!

These things need so much power that unless the site has access to major grid access point you're wasting your time. 

However again if your bound and determined to buy the physical assset then you need to buy quality not C class.. you will NOT get consistent cash flow like you are thinking your will. you will have tenants stop paying you will then get NO rent for 2 to 6 months as you evict and then spend thousands rehabbing the house they just trashed..