Think of how many investors will not buy in Chicago or chose not to remodel, which in turn will not help neighborhood grow, not help prices going up, not increase property tax - which will hurt the 70% tenant occupied city further as they will miss out on benefits the city will get from property tax payments, plus the staying buyers will find a way to either increase rents even further or add some fees to the new leases. 

Overly permissive politicians buying freeloader's votes with  hard working taxpayer's money!

It’s on discussion threads on bp nearly daily...But that wasnt your question...Electing to be taxed as a S Corp (remember, S Corp isn’t a legal entity, it’s just a tax statu) is really designed for reducing your self employment income tax payments.

They indicated they would be issuing FAQs to help taxpayers understand their prior guidance. 

It’s a very sad, unregulated loan process that we the tax payers will always ensure is paid.

In case you didn’t know this but roughly 80% of properties that are being rented have mortgages against them and landlords need to make mortgage payments, insurance payments, property tax payments, pay for water and some electric and gas bills.

The taxpayer can elect to treat all interests in rental real estate activities as a single activity With that, the 500 hours is not that challenging.

To qualify as a ‘Professional’ for tax purposes, a taxpayer, or their spouse, must meet a two-part test: (1) the taxpayer must spend the majority of his or her time in real property businesses, and (2) the taxpayer must spend 750 hours or more in the real property business and rentals in which he or she materially participates.

STH is the tax payer for the property you are selling. 

That makes him the tax payer for the property.