Maybe your seller just wanted to put it under contract first.You're correct about the 45 days.

.- Plan: reduce corporate tax rate to 15%.

This ensures your books match the timing of your taxable income.It sounds like you're off to a great start—make sure everything is categorized correctly and consult a CPA to confirm your setup.

I am admittedly a newb in the process of getting all of this set up for my first rental (so correct me if I'm wrong) as well but I have some IL-specific perspective to offer: From what I have read, as of 1 Jan 2024 in IL, landlords cannot exclusively accept EFT payment of rents (includes Venmo, Zelle, etc.) for leases starting on or after that date.

I have a corporate job but have owned 2 rental homes in the Cleveland Ohio market several years ago.  

Quote from @Joe Villeneuve: Quote from @James Hamling: @Victor Tofilski I can't tell you exactly why it hasn't leased yet but I can pick it apart and give you detailed road map of every deficiency I notice and how to correct. 

I believe this is correct, but only limiting to 4 total.

Please make sure you have all the correct disclosures and everyone knows what's going on so you do not get in trouble or anyone else.  

Correct.

What I would tell you is that as we built our portfolio we continued working our full time corporate (cubicle) jobs until we had 20 units (self-managing them along the way).