So it's a ready action to deploy exact same to CRE this go-round and use the previous as case study to it's assured success and value for "taxpayers". 

As an example, a taxpayer is completing their own renovations of a property to save a bit of money with the intention to rent out.

2) Each taxpayer has their own tax rates to consider - Federal and state tax rates.When determining state tax rates, they need to potentially calculate the state tax rate of the resident state and the state where the property is located in.

Because the S corp files a tax return it is it's own taxpayer. 

As a pass-through entiry, the LLC does not pay any income tax in its own right, but instead, the LLC income/loss is passed through to the taxpayer's personal 1040.  

This gets complicated with two sets of participation rules for limited partners and individual taxpayers.

If you decide to sell and 1031 the into another property, you will delay the tax payment.

Section 121 allows a taxpayer to exclude $250,000 of gain($500,000 if married filing) joint on the sale of a personal residence that was lived in for 2 out of the last 5 years.

If you are a cash-basis taxpayer, you report what is paid in the year.

By showing the full 1099 income on the return, it helps mitigate the risk of IRS flags or inquiries related to unreported income.However, it's worth noting that the IRS typically matches 1099 income reported by payers to the income reported on taxpayers' returns.