I recently read a book that mentioned there being a lot of power and benefits of a personal corporation but I'm curious as to when a corporation is actually beneficial over the latter. 

Cash flow is constantly promoted and pushed, and often, the personalities lack long-term experience, so they can't talk about the best reasons we should be investing.  

I've made about $140k the last two years between my full-time job and some personal injury cases I've settled.

Feel free to take or leave my advice, but I think others will agree that, for now, you should focus on maximizing your savings rate, building your credit, paying off any owed debt, and house hack your first deal—just my two cents.

Let's break it down with precision:The "Pain" (At First Glance):Your $2.8M sale splits out as:Building (§1250): $2.3MPersonal Property (§1245): $500KOriginal Basis Allocation:Building: $1.6M (depreciated over 27.5 years)Personal Property: $400K (fully depreciated)Building Depreciation:Annual: $1.6M ÷ 27.5 = $58,182Total over 10 years: $581,820Gain Breakdown:Building (§1250):Sale Price: $2,300,000Original Basis: $1,600,000Less Depreciation: ($581,820)Adjusted Basis: $1,018,180Total Gain: $1,281,820Unrecaptured §1250: $581,820 (25% max rate)Capital Gain: $700,000 (20% max rate)Personal Property (§1245):Sale Price: $500,000Adjusted Basis: $0Ordinary Income: $500,000The Strategic Play:Remember those suspended passive losses you couldn't use?

And now that it’s posted, all I’ve gotten is 1 hit and that person was a no show. 

Talk with the syndicate/Reit and your tax person. 

I personally think it really depends on how much value will it add to the property and if the town will allow it. 

I know you are pitching your program or software that you want to sell, but I don't think it is really solving the personal contact problem.

Separately I have a personal umbrella policy.