Rentals generate passive income, so an S-Corp offers no added tax benefit.

Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.

I used to live in the city and the taxes and water bills are nightmares.

Work with a lot of expats and foreign nationals in this space tax related.

Use umbrella insurance as an additional safeguard, especially if you opt not to form an LLC.Avoid S-Corp taxation for rentals, as rental income is passive and not subject to self-employment tax. S

There will be no assessment for increase in taxes or insurance so remains at $1935.

(gross rents $4900; 8% PM; mortgage+insur+taxes = $3600/mo).

Since you're looking to expand into Florida and other states, I'd recommend starting by narrowing down your focus:Market Research – Florida has great opportunities, but each state and city has different laws, taxes, and demand drivers.

Enough immediate cashflow to balance out the mortgage, taxes and insurance.

It is your first year when you get the major tax savings windfall due to cost segregation and bonus depreciation.