Yes, classifying your LLC as an S corporation when you file your taxes can avoid most self-employment taxes and open up new retirement planning opportunities like a solo 401k.

Ask to see a copy of the lease and look for the length of lease, current rent amount, tenant obligations like paying for utilities and adhering to house rules and look for Landlord obligations like things the landlord may currently being paying for (like trash and water)Make sure to have an assignment of the lease and clear language on the security deposit WITH interest shall be transferred to the new owner at settlement.Consider tenant quality - what’s their payment history looked like, obtain rent receipts or bank statements from the seller to review on-time payment history.

Upon default, our deed of trust specifically allows us to require the borrower to prepay into an account to cover insurance, taxes, or any other unpaid obligations.

I’m thinking about doing a corporate rental with my property, so four bedroom house in a nice area.

If it is a partnership/S-corp or a state that won't allow a QJV, then you may want to file an extension & talk to a tax professional who can help you navigate through this as that would introduce a lot more complexity into the mix.

Then acquired by Cheap Lands corporation and they sold the land to me.

Hoping things change🤞🏼I am involved in the community here and know first-hand the money and resources being thrown at minority-owned businesses from large local corporations as well as local community foundations. 

You might be able to join our tribe through Prime Corporate Services.

It amounts to indifference to present legal duty and to utter forgetfulness of legal obligations so far as other persons may be affected.

The harsh reality is that deficit spending to meet interest obligations will accelerate, further reducing the purchasing power of existing USD in circulation and USD savings.