If you or your spouse can qualify for real estate professional status, it is possible to shield most or all of your income from income taxes.

If I live in DC and don't yet know where I'll do business (MD, VA, or DC or all three), would it make sense to set up an LLC in the district, MD, or VA?

Then listen to a few or all of the podcasts.

Considering selling part or all of our 70+ door portfolio with mostly single family, one triplex, one seven unit and one four unit.

My understanding that ONLY a month to month lease can be oral.

I know of more than a couple landlords who make some or all of their rental income on Section 8 tenants and have done so for decades, so don't let anyone here tell you its not possible.

I gave my tenant oral notice yesterday (April 12) that I need the apartment after his lease (expires July 1) is up.

Account ClosedSo what I'm recommending is keep renting your apartment for whatever you are paying.Buy a duplex (or tri-plex) and rent out both or all three units and keep living in your apartment.If you buy a duplex, you get two rental incomes.If you buy a tri-plex, you have three rental incomes.If the rental incomes are higher than what you are paying in rent, you're coming out ahead on that additional unit.Say you are paying rent for $500 a month right now.Maybe you get a duplex you can rent both sides out for $700.Rather than collect $700 and live in the other half of the duplex, rent both out for $700 and $700 and keep paying your $500 to share your current place with the roommate. 

You are the Sponsor since you own the building and get to sell as many as many or all of the units. 

Very often in multifamily you are paying some or all the utilities and yard care, so your expenses are higher.