After/If you choose to be an LLC with the State, you complete a Form 8832 entity classification document with the IRS to choose.

Another big government screw-up that is conveniently being used to vilify the wealthy and productive and boost the victimhood mentality of the dependent class. If

Unless there are material differences in classification and management, generally speaking you'd only be dealing with one trade or business. 

Source of income is not a federally protected classification.

There are some points with asset/expense classifications, depreciation, etc that are somewhat subjective and different from regular rentals.

Did they not offer you a cram class? If

(emphasis added) The laws of both states must be checked to determine the classification and treatment of the LLC and its members.

Desktop has some classification options that make trailing financials easier.

I would like to stay in the B class area and maybe I would look at some C class if it looked like the area was going forwards and not backwards and the numbers worked for that C class to make it worth the headache.

. 🅰️ Class A:• Top-tier quality & desirability• Newer construction (last 10-15 yrs)• Prime amenities (pools, gyms)• Great locations• High-income tenants• Highest rents 🅱️ Class B:• Good but not top-tier quality• Older (built 15-30 yrs ago)• Fewer amenities• Moderate locations• Middle-income tenants• Moderate rents / Light Value Add (I think the early 2000s)🅲️ Class C:• Lowest quality & desirability• Over 30 years old• Minimal amenities• Less desirable locations• Lower-income tenants• Lowest rents -> Highes Risk High Reward Renovated Class C: Upgraded Class C properties can potentially become Class B or even Class A, depending on factors like renovation quality, location, market conditions, and tenant demographics.Knowing these classifications can help investors, property managers, and other stakeholders better understand market segments and potential returns on investment.Here is a question how much does it cost to turn a Class C property into a Class B property?