Recommend talking to your CPA about this strategy. 

Now if I pass that income as management fees to S-corp, I pay $3.5K (SE tax) + $800 (LLC fee) + $1700 (CPA + bookkeeping) = $6K in total.

This is one of the reasons I use a CPA for everything.

Keen to connect with any overseas investors. I am based in New Zealand and own 4 properties here, but keen to explore investing in the US. 

Accountant – Preferably a CPA. 

@Mitchel Johnson Welcome to BP and I wish you the best in investing..Usually people start by going to local meetups and building a network of trusted people to get their feet wetHere is an examplehttps://www.meetup.com/find/?

Keep detailed records of repairs, improvements, and rental income, and consider working with a CPA specializing in real estate to ensure you're taking full advantage of deductions and strategies like passive losses, home office deductions, or even the Qualified Business Income deduction if applicable.Good luck!

Instead, consider a HELOC or home equity loan to fund repairs, as the interest may be deductible if used for home improvements.This post does not create a CPA-Client relationship.

But do talk to a CPA/tax professional who has done this.

The Initial Filing:Any existing business not excluded must begin to file in 2024 via the FinCen network filing process.