@Brad Fletcher, talk to @Linda Weygant. 

@Joseph Wright thanks for your response. 40K is what my relatively inexperienced mind expected too so thanks for confirming that.

@Linda Moore, what are you referring to about the numbers not working?

Tim Wright I️ have heard of a few good MFR’s if you would like to talk more about those feel free to PM me.

As Linda mentioned above the net income associated with the property management business will be converted to ordinary income which is subject to self-employment tax.Some benefits of having ordinary income is that you can make retirement contributions based on this amount.

@Linda D.

Linda,Thanks for answering.

Send me a private message and I can fill you in as well as give you a great attorney.Thank you @Linda Hastings for the referral

Originally posted by @Linda Dalton:Grant Cardone states that you can buy a house, put it in an LLC and then you can rent it from your LLC and write it off, is this legal? 

However, you may be able to recover your share of the cost of any improvement by taking depreciation." https://www.irs.gov/publications/p527#en_US_2017_publink1000219144@Linda Weygant If I were to sell the property within 6 months, the remainder of payments will transfer to new owner.