Quote from @Spencer Dixon: I'm familiar with concept and benefits of bonus depreciation but I'm not sure where the current law stands and the bill that was floating around congress.

She’s just a good person, period, and anyone she works with will benefit from her expertise.If you’re considering investing in Cleveland or need help with an out-of-state property, do yourself a favor and contact Melissa.

How will tax benefits break down?

Unfortunately, you miss out on a lot of the cool tax benefits you’d get with long-term real estate investing—like long-term capital gains rates, bonus depreciation, 1031 exchanges, depreciation, etc.Another thing to keep in mind is that when you buy a property to flip, you can’t just deduct the purchase price right away.

That's one of the benefits w/ Carrot is we can help you cut that learning curve and make it easier and faster for you. 

For buying my first property, I really benefited from a good real estate agent and talking to as many investors as possible.

That is what you're doing - you aren't collecting the money, and you aren't benefiting from it. 

- Should I purchase the property through an LLC for potential tax benefits?

The bank will sometimes take the excess funds (difference between redemption amount and winning bid) as a immediate cash benefit on their books and write off the loan.  

In other words, the IRS will not allow you to take advantage of double tax benefits.