You receive a W-2 from an investment banking firm - no need for a company there, earned income.You receive a W-2 from the DJ business now and so you would not want to receive wages or earned income and deposit it into an LLC and report that as SE income and be subject to the SE taxes a second time on the same money and you would not want to deposit it into an S-corp and then be forced to pay yourself W-2 earnings and pay payroll taxes (same as SE tax) for a second time on the same money again.The only question left is the side gigs you do and I would put that on your Sched C income and buy yourself a bond insurance policy which is probably pretty cheap.Joe

The sophisticated investor thinks in relative terms about value he didn't capture and what his opportunity costs were.

My property list is about 150 and should be able to push it close to 500 soon)Smaller properties (depends on the market but less than 150+ units) often will have less sophisticated and smaller ownership groups.

The strictly local investors will generally be less sophisticated and be expecting returns more inline with what their market is offering. 

Bureau of Labor Statistics: Current Employment Statistics (CES)The Current Employment Statistics (CES) program produces detailed industry estimates of employment, hours, and earnings of workers on payrolls every month.

He wanted to get a COVID Paycheck SBA grant based on his payroll.

Sophisticated investors invest on cashflow where the rents exceed the mortgage plus expenses (and enough money to pay for professional property manage to do our dirty work).Sophisticated investors look at the Rent-to-Value Ratio and look for at least 1% or more to be able to cashflow after expenses.

Eventually, most sophisticated investors don’t bother with their own banking relationships, and just have their broker approach them as well.

We tried a local bank and it is too sophisticated for them and one national bank that does not work with WY LLC’s.Anyone have suggestions on a National Bank that can handle our circumstances?

You will certainly be shut out of desirable large Metropolitan areas and wind up concentrating where anyone can do a GRM, CoCR, 1% rule, etc. which are really, non-sophisticated, non-complex calculations.Once you can understand and use IRR, you can evaluate ANY Investment.If you want to evaluate only Cashflowing Investments using IRR as an example, you set up a series of cashflows which only has the `10 annual Cashflows of the Investment over the 10 year holding cycle.