Also, rentals in S Corps are generally bad should you want to revoke S Corp election one day, the assets are distributed at fair market value and likely will have capital gain without cash.Alternatively, a multi-member LLC taxed as a partnership is considered a pass-through entity, and if your state allows SALT work-around / PTET on rental income, a partnership solves both issues.We recommend partnerships often for rentals especially STRs.

  $380kMy questions are:  In todays market would you jump into a BRRR with the upcoming election and uncertainty in the markets? 

The author of most of the bills was evicted when he was in high school and the president of the senate was also evicted when she was a child.

20% deduction of pass through income under Real Estate Safe Harbor election.

Effectively, if you're asking about 2024, you'd be able to take the de minimis election for appliances and such you bought during 2024 but would need to capitalize 2023 and before.

You will need to work with a tax professional to analyze your current tax situation (income, deductions, activities, etc.) as well as projected income from the fix and flip business.The benefits have to outweigh the costs (payroll costs, additional tax returns, more stringent reporting and compliance requirements, etc.).One important note - an S Corp is not an entity; it is a tax election.

The REPS-9 election prohibits grouping short-term and long-term rentals, emphasizing the need for careful strategic planning.

My question is why do you guys keep electing the same idiots that screw up your state?  

I was also President of National REIA for 5 years until 2023.

If you're aware of a recording device and elect to speak anyway, is that tacit consent?