There is some room for creativity here, but it takes careful planning and execution, and there is only so much you can push it before crossing the line from aggressive but legal to reckless and punishable.GROUP 2: Tax strategies that do not belong on the EOY to-do listForm an S-corporation.

Quote from @Jimmy Rojas: Thanks for the reply, i think it may not be worth it after all, may I ask did you use a calculation app to come up with the mostly payments, if so, care to share it with me.One more thing.

Are you planning to more projects like this (or maybe BRRRRs) this year?

I currently have a bank account dedicated to my first property which I hold in an LLC, and I'm planning on paying out of pocket for the start-up costs initially but I wasn't sure if creating new savings accounts under my first LLC's Bank constitutes a comingling.

You have many options.I have done the development side before and unless you are experienced, be careful.   

I had one investment in a syndication that would have been a total loss however the sponsor made good and repaid principal . so 3 year no return.. which is just fine by me personally I am not one who goes crazy if the return is lower or does not happen to me its principal i care about.. 

Because with an HOA in tow that means your not doing it alone, you have active "partners" who will be taking care of a slew of things so think of it like training wheels. 

Take care of your properties and follow up with issues.

Quote from @Richard Eric Hughes: My question is what ae you planning to do?

While I don't believe that you need a full blown business plan, strict operational budget, timeline, scrum board, etc...