All that makes sense and also as an action item I have to keep the dialogue open with our CPA for the 2024 filing considering the deductions. 

You would want to check with your CPA/accountant to see how he would like you to set up the second LLC. 

I also haven't ever had a CPA who demanded money upfront.

I totally understand if you can't answer this, as these may be questions for my cpa who I am calling tomorrow!

I would say your CPA isn't entirely correct.

It is when the property is available to rent.You do not necessarily need earnings from the property to have deductible expenses (again, available for rent is not always the same date as the lease start).REP status is 750 hours in real estate activities PLUS material participation in the activity(ies).Talk to a CPA or tax pro who knows this stuff.

This is a major drawback for depreciable assets.Hoping you have a good CPA in your corner my friend!

I’d advise you speak to a CPA as well, different trusts bring along potentially different income tax filing results.The maxmimum income tax rates on trusts are also reached far earlier than they would be on a personal income tax return.Generally trusts and LLCs serve different purposes as well (i.e.

However, if you're open to a silent second position via a promissory note, it may be feasible.Determining whether to invest as an individual or entity is a question best addressed by your attorney and CPA.

You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.