They lower taxable income for federal taxes but not for FICA.However, employer contributions made by the S-Corp are not subject to FICA and count as a business expense.Make sure your W-2 correctly reports wages, deferrals, and FICA wages.

For those who are running successful Section 8 businesses out-of-state, did you start in just 1 state or if the opportunity made sense would you purchase the property regardless of the state?

Unfortunately, the only guarantee in this business, or any business really, is there are no guarantees of outcomes... ever.  

Also, if it fits your budget and your business needs a write off BPCON lives up to the hype. 

Almost any business you look at has its own gurus and scammers.

because I was paying my bird-dogs vs having them pay me and just promise how someday, maybe just maybe they will bring the grand-slam of a deal and then I will be paying them oh-so much $$$$$ Seriously, from those buying into this I gotta understand how your mind works, no insult meant, I am genuinely intrigued and baffled because if it's a good deal you can go to any number of investors and get $, not a one will charge you for the opportunity to present them deal. 

I cannot tell from your description what either of you would be bringing  to the partnership. 

Of course don't go there just looking for business, you go because you believe in whatever the group is doing. 

I am here to create a business strategy that protects personal and business investments and mitigates risk,  procure a coach or mentor, and set up tax strategies to create long-term wealth for myself and my family. 

Yours appears to be a business-purpose (investment) loan.