Florida tends to incentivize businesses (tax breaks) and individuals (no state income tax) to move there so it checked that box for me. 

The individuals that broke in did the following:    a.

It shows individual gains and ROI over a 30-year period, which helps identify which factors provide the highest returns and make informed investment decisions.In your case, even if you're not cash-flowing in the first year, since the negative cash flow is minimal, I’d still go for it.

Your participation was substantially all the participation in the activity of all individuals for the tax year, including the participation of individuals who didn’t own any interest in the activity.3.

I also factor in soft budgeted expenses like cap ex, maintenance, and vacancy.For example, if I had a $3k rental and the hard expenses were $2,200 you might view this as $800 cash-flow positive, but I am going to budget maybe 15% for those soft expenses and my cash-flow would be $350 per month.

For example, when selling or holding investment property, individual circumstances can dictate that it’s a smart move to sell.Most reasons for selling investment properties are related to profit.

Moving to an LLC will help going forward to show the property is owned by an LLC rather than you individually.

We partner with individuals who want to start their own Assisted Living Mansion.

However I recommend speaking with your accountant/tax advisor before making this determination as this may differ depending on the individual and their objectives. 

It is always great to meet like minded individuals.