You will receive a 1098 from the bank every year and you include it on your Schedule E

the numbers crunch well. depending on the amenities and how they are hooked up, i. e. electric, plumbing, and such, i would say it is a good deal. if all of those items were hacked in place, you could have issues in the future, but if they were done correctly, then there is no issue. with those kinds of numbers, provided you can keep it at full occupancy, you will recoup any costs you have into the place in a short time. getting a profit in the end when you sell it would be nice, but if you are into it for the cash flow now, then profit at the end is a non issue. you just don't want to lose money if you can help it. i would say go for it. maybe have a home inspector check a few things out first, but if he says it is ok, then go for it. 

did you receive my e-mail?

@E.

@Tom Beatty | @Chris E. 

I can e-mail them over.    

@Carolina E.

If the S-Corp has frequent and significant passive income, such as capital gains or rental income, the S-Corp status can be revoked by the IRS and you become subject to all the C-Corp regulations as above.I'd own the properties as yourself - no sole proprietorship required, because it will be on a Schedule E, not a schedule C.  

Someone takes a look, I tell them it will be going up on the rental sites in X days, but if they are interested provide their e-mail address and I will forward them an application, which I do through SmartMove.

I took three years after High School to trade stocks with my father with no raging success or failure, just b/e.