In addition, he answers all sorts of questions for me throughout the year and doesn’t charge us for that.I see many of my friends leaving way too many expenses on the table.

No, you cannot create phantom losses this way.Some additional issues that we have not addressed:- holding rentals inside an S-corp has many tax disadvantages- you will likely jeopardize your $250k/$500k capital gain exclusion for homesteads- you will lose asset protection afforded to personal residences by most states- you will lose your homestead exemption for local property tax - your insurance will have to change from owner-occupied to rental, i.e. go up- and there's moreConclusion: there're reasons why nobody is doing this clever "strategy" but A+ for trying.

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.

Lenders may count eligible assets as additional qualifying income by dividing eligible assets by 60.🔹 Example in Action:Rental income: $9,000PITI: $9,500 → DSCR <1 (not qualifying)Using $63,000 in assets → Adds $1,045 in incomeNew DSCR >1 → Higher LTV (80% instead of 75%)🔹 Why This Matters:✅ Helps investors qualify for better financing✅ Increases borrowing power and flexibility✅ Allows you to scale your portfolio fasterUnderstanding financing tools like this can be a game-changer for investors looking to maximize opportunities.

In addition to Wishing Well Hills, Decatur, Brookwood, and Smyrna/Marietta, you might also look into Powder Springs, Austell, and parts of Douglasville, as they offer more affordable options with solid rental markets.

As a realtor, investor, and owner of a construction company in College Station, Texas, I understand the importance of having trustworthy and efficient workers.

Should I just save that additional tuition money and put that towards my first investment? 

However, since you live in California, you may still be required to register the LLC there as a 'foreign entity,' which can come with additional costs and regulations.For taxes, California has strict rules on taxing out-of-state income, so you’ll likely need to report your Oregon rental income on both your Oregon and California tax returns.

The only reason he did it was because it led to additional work.

I'm sure it's a little more efficient in larger cities, but my market requires up to 60 days to get approval.Lower your expectations with Section 8 tenants.