Remember you are exempt from excise franchise tax if you file an exempt form.This post does not create a CPA-Client relationship.

Here are some more details. 

@Drew Sygit - thank you for your detailed response and questions!

It’s great that you’re being proactive, especially as you scale up your real estate portfolio.You're right in noticing that higher W-2 income creates some barriers when it comes to offsetting taxes through real estate, especially due to passive activity loss limitations.

I joined Bigger Pockets to further my investor mindset, connect with other investors, and create passive income through affordable housing! 

Meeting some people tonight there to create a scope of work and do some additional discovery.

‘As you are creating your ad, you will at some point need to choose to create a new lead form.

Using Power Query and the Propery ID, create a custom URL for each address4.

This involves creating a Wyoming (WY) blocker LLC, which will act as the member-manager of the Michigan LLC.

It is worth noting that no matter how profits are split, all of these scenarios would likely require the assistance of an SEC attorney to create a PPM.The example you used was a pre-determined profit.