Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Avoid C-Corps, as they incur double taxation.Use LLCs for rentals and consider an S-Corp election for flips if income justifies the additional complexity.This post does not create a CPA-Client relationship.

Combine these benefits with GI Bill-funded real estate education to expand your knowledge.This post does not create a CPA-Client relationship.

If they work independently, set their schedule, and use their resources, they might qualify as a 1099 contractor, but misclassification risks IRS penalties.Wages for W-2 employees and payments to 1099 contractors are both deductible business expenses, but compliance is key.This post does not create a CPA-Client relationship.

Just like you said at the end of your post. 

The information contained in this post is not to be relied upon.

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Instead, consider a HELOC or home equity loan to fund repairs, as the interest may be deductible if used for home improvements.This post does not create a CPA-Client relationship.

That being said, I don't have the information I would need to say for certain, but that sounds as if that's a high price for the asset you're considering to buy.