As a six figure earner, I am seeking advice and insights from experienced real estate investors on strategies and best practices that were valuable when starting out!

Hey everyone, excited to be here!
I’ve been a real estate investor since 2015, owning and managing multiple multifamily properties and running a short-term rental business in Cape Cod, the Lakes Region of NH, and the...

Low income earners, higher unemployment, low education rates.

My recommendation would be different if you were a high-income earner or if you wanted steady equity growth.

They lower taxable income for federal taxes but not for FICA.However, employer contributions made by the S-Corp are not subject to FICA and count as a business expense.Make sure your W-2 correctly reports wages, deferrals, and FICA wages.

However, if you're a W2 high income earner or business owner, I can't imagine it makes any sense to flip houses, mail mass post cards, wholesale, or build lead gen websites with the value of your time being better spent other places (such as learning about real estate and increasing your income through proven means), such as at your 9-5pm or growing your business, and your real estate is a long term process and you don't need "home run" deals to qualify or make it work.

However, there's a critical detail that many tax advisors conveniently overlook when promoting these studies.Here's the uncomfortable truth: If you're a high-income earner (AGI > $150,000) and not actively managing your properties, those promised tax savings might be locked away for years.

BTW you said you have a 9-5 so keep in mind you cannot double dip on the employee 401k contribution.

The contributions are lower so it takes a while to build, but once you do, it's tax-free investing. 

The other thing that concerns me is you mention that you are both high income earners but that you are “trying” to save an emergency fund.