Hi all, My relative wants to combine their $500K personal exemption & a 1031 exchange to liquidate their rental properties without paying taxes, but they are worried about missing the180-day time limits for the 1031 exchange, so they want to involve their son-in-law (SIL).

I have done my research on setting up the proper entity structure in the US and Canada but I really confused about all the options available LP, LLP, C-corp, S-corp.

Hello community, First of all, I'm so jealous of you having an amazing community like this, we don't have that in Denmark, which is where I'm from. 

But yes; if a rental generates net income after all expenses that is still taxable. 

Take detailed notes and don't be afraid to ask any and all questions until you feel like you understand the process 100%.  

Best of luck to all of you. 

Wishing you all the best on your investment journey!

And of course all the events and attractions that draw people to Myrtle Beach are just 20 minutes away.In addition to Murrells Inlet, I would consider the adjacent Surfside Beach... which sits right between Garden City Beach and Myrtle Beach. 

Our group has members from all over the world and we invest in many countries.

I built an AI Agent that does this, searches google, contacts the vendors, gets availability, gets quotes, handle all back and forth communication, then gets back to me with suggestions, price, reviews and summary of the conversation.So yeah, I am super pumped by AI's application in the field