@Kelly Taylor who doesn’t like tax free atm withdrawals?  

You have the ability to sell while limiting your capital gains tax because you lived in 2 of the last 5 years. 

That means creating a clear budget, forecasting cash flow, and maintaining a detailed financial model that tracks both the current and future performance of your portfolio.Tax Optimization & Risk ManagementBeyond financial clarity, strategic tax planning and risk management are essential to safeguard and grow your real estate investments.

In doing so, bear in mind that the cost and admin of a corporation is higher and that the tax treatment is different:1.

They don't require employment verification, income or tax returns.

- the property is based in Garfield Heights - and that my property tax will be much higher.More details: https://brickbear.ai/share/deal/1/583 Define "area not that great"......It's a high C type area.

Do we 1st do tax on the LLC and whatever we split 50 & 50 then each claims on their taxes ?

(Loan paydown, tax savings, etc etc..).

According to our understanding:1) California does not recognize REP status, but we could claim it on our federal taxes, is this correct ?

@Jeanette LandI always recommend using a tax professional.