Becoming an S-corp has some downsides including additional tax prep fees, payroll processing fees and lower social security income in retirement. 

@Stephanie SelbyRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Im also interested in starting to invest in housing whether that be flipping, BRRR, etcMy wife, 54, is newly positioned social worker and climbing to what she feels is her max with clients.

@Chris LauerRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

This includes critical programs such as: Social Security & Medicare, Medicaid & SNAP (food assistance), Pell Grants & Head Start, and Rental Assistance Programs". 

Yes, as S-Corp owners receiving W-2 wages, employee deferrals to a Solo 401(k) are subject to FICA taxes (Social Security & Medicare).

I’d start with a smaller deal - buy a 6 to 12 unit say - raise money from your social and professional sphere - people who know you - who you have a beer with etc.

If you prefer to stay local and build equity, house hacking a duplex or triplex in Fort Lauderdale could work, especially if you can add an STR component to boost income.

Likely the reason it cash flows on paper is due to a very large construction component that you might be underestimating.

@Daniel LangRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.