The #1 reason why landlords fail - according to the American Apartment Owners' Assn - is failure to manage to the lease. 

Just don't see the S-Corp or another LLC having a place here..I've heard tax advisors say it takes around $70k min of self employment income for the break even point for S-Corp to make sense.

A broker shall not be responsible for supervising, nor shall the licensee be responsible for operating, within the scope of the brokerage or within the requirements of this chapter, activities that would be considered property management, including leasing, maintenance, and repair, so long as the real estate being managed is "individually owned" or "entity-owned" as defined below:(1) "individually owned" real estate is real property in which the licensee holds an ownership interest; and(2) "entity-owned" real estate is real property owned by a corporation, limited liability company, partnership, or trust, within which entity the licensee holds an ownership interest as an owner, trustee, partner, or officer, or in another beneficiary capacity.

Build a team of professionals, prepare your finances, and carefully select a property near high-demand areas like hospitals or corporate hubs.

@Leslie L Meneus you are trying to find a tribe of super freaks.Let me explain…Only 6% of Americans own one or more rental property.  

Hi guys, I have some questions about putting property into LLCs/protecting assets, any information is greatly appreciated: Question 1: my understanding is that an LLC needs to be actively conducting business in its registered state in order for the LLC protections to apply, otherwise a judge could potentially pierce the corporate veil.

@John Slater - So you knowingly associate with James Piccolo, whom the Arizona Corporation Commission fined $6 million dollars in restitution and fines for defrauding 105 investors with unregistered deed of trust investments?

Look, we were for most part playing a game of American Football for a long time.

We would like to learn about how we should have went about it so that we can purchase more properties, minimize mistakes, and reduce our reliance on corporate life.

You can choose to report your income and expenses on Schedule C by electing to file as a Qualified Joint Venture instead of filing a partnership return.If you have created an LLC that is not in a community property state, and as husband-wife you are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a corporation for tax purposes.If you have created an LLC in a community property state, and husband-wife are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a disregarded entity or corporation for tax purposes.