Quote from @Daniel Huang: Hi, I am trying to transition to develop my rental income as I am in the final years of my professional career.  

My endgame is to end up with $300k/yr in post-mortgage income in 20 years based on investments I make now followed by continued investments over the next 10-15 years own.

K1s show your share of income or losses from the partnership, and you include it on your respective personal tax returns.Now, to your partners.

Rentals generate passive income, so an S-Corp offers no added tax benefit.

Part of those cuts included the short-term rental tax loophole, a strategy real estate investors can use to help mitigate their rental income tax by offsetting earned income with real estate losses, and could be renewed or extended.  

All over the web.

You kind of have to pick a lane - do you want income or 4 units in 4 years?

., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

Transcribing transactions from bank statements, posting transactions to the correct accounts, and then manually creating an income statement, statement of owner's equity and a balance sheet is a fairly time consuming process and I have not been able to keep up with the book keeping between my regular work responsibilities.What accounting software do people recommend? 

I also agree, that income is not a protected class.