@Brad Kanouse Using Traditional IRA funds for an investment property typically incurs income tax and a 10% penalty if you’re under 59½, as investment properties don’t qualify for tax exemptions.

The rates vary throughout the State because of the different millage rates and tax districts, but in Richland County for instance, the taxes essentially triple once it goes from legal resident to non legal residence. 

That’s how you make your money, on the front end, not hoping the market will save you.( you can do things to add value )Now, how are you vetting the deals you're looking at?

And, Turbo tax Business software is $163.

Hopefully someone with tax accounting knowledge can jump in here with more detailed analysis, but I looked at this a bit several years ago...1) You still have to pay the depreciation recapture on the sale decreasing the net benefit of this approach due to the large tax payment in the 'sale' year2) The LLC would need to not be a passthrough entity so that it can be taxed separately from you, so you have to add another tax return cost for the years going ahead3) Taxing it separately from you likely means corporate status and corp. taxation rates which are higher than yours and I've heard many times over the years to avoid titling real property as a corp...Overall from what I've seen this only makes sense in a select few scenarios, which for most people aren't in play. 

Not a CPA or tax attorney but my understanding is the commission is income, taxed accordingly and deductions from the purchase are handled regardless of if the agent also generated income from that deal (if there are any deductions at all).

I hope this helps.

These logs regularly end up in the Tax Court and are usually destroyed upon review.

In my opinion, since the tax code is open to interpretation, I interpret as much of my costs as repairs unless something obviously falls into the definition of asset.

.: I have a main company, that owns a bunch of LLCs, each LLC holds a single real estate asset. 1 of the LLC also acts as a management company for the entire portfolio.Now it creates a problems that with each LLC, I need to file a tax return each year. and so far I am doing them by excel copying numbers from bank statement, which is a nightmare.Quickbook online charges $24 each month in Canada, which really adds up with the number of holding LLCs. and I don't feel like what I require from it justify the cost.