New member looking for tax advice on first RE deal.Looking to offset taxable income of my current business income while investing in a rental property.

My wife and I file separate because if we filed jointly we would have to pay 10% of our combined taxable income.

If you sell the house, your repair and improvement costs will be added to the cost basis, reducing your taxable profit.

Ideally I'd like to have the corporation pay expenses directly or it will look like income if it is transfered to me or some kind of expense reimbursement both of which would be taxable personally. 

It’s a great way to lower your taxable income and improve cash flow.4.Dividend-Paying Stocks/Covered Calls: If you’re still leaning toward investing in the stock market, dividend-paying stocks or using covered calls could provide steady income while reducing risk.5.DSCR Loans: You’re already on the right track with DSCR loans—a great option to keep scaling your portfolio without relying on W2 income.Hope this helps give you a few more ideas!

Keeping their taxable income down is a huge advantage for you as paying that from the sale would not be the most fun, although maybe I am incorrect since the property was inherited. 

I would also add in some counties, moving the LLC from your personal name into the LLC can be considered a taxable event, you would need to see what the specifics are for where the properties are located.

Usually, there is no taxable event if the LLC owners are the same as the current property owner.

I know the interest they get is taxable I would probably have to set up a LLC with them being equal partners.

In my jurisdiction, they will adjust your taxable value the day you close, and if it has been a while since this deal closed, often times the taxable value that seller is paying on has not kept up with market values.