It ensures you’re bringing in responsible tenants and minimizing risks.

How do we minimize taxes on the profit we're making on this first home? 

We try to set up at least 3 timeslots each week when we can schedule all the showings to minimize the tenant interuptions.If they won't cooperate or cancel too many scheduled showings, we warn them we will pursue collections to the fullest extent of the law. 

I've also held of holding properties in individual LLCs that are owned by one S corporation, which allows for a 60 / 40 split between ordinary income (regular tax) and dividends (capital gains tax rate).With the goal of minimizing taxation and liability protection, what would be the recommendation from more experienced people here?

I have been on New Western's deal list as well as another bigger local company and everytime I underwrite these deals there is very very minimal left on the bone let alone contingency funds for going over budget on the flip...

I love partials for minimizing discount on notes (and to keep some of that interest rate working for you). 

Additional Categories: Charity? 

I want to take advantage of growth if possible, but also want to minimize taxes and fees (penalties).

Other than a few regular maintenance and wear & tear, we have had minimal expenses.

In the one house that I still have some existing, it's only on an overhead light circuit with no insulation around it, and I minimize the load on the circuit by using only low voltage LED lights.