They have a good reputation in the area and may offer a more reasonable fee structure.

No, you cannot create phantom losses this way.Some additional issues that we have not addressed:- holding rentals inside an S-corp has many tax disadvantages- you will likely jeopardize your $250k/$500k capital gain exclusion for homesteads- you will lose asset protection afforded to personal residences by most states- you will lose your homestead exemption for local property tax - your insurance will have to change from owner-occupied to rental, i.e. go up- and there's moreConclusion: there're reasons why nobody is doing this clever "strategy" but A+ for trying.

I'm not motivated, but the homes needed work I didn't want to do or I did if for strategic tax or debt shell game reasons.

Jeff and John are extremely reasonable and may give you a handful more great ideas based of what your end goal is.  

She is meeting on Wednesday to take the listing and find her a new home ( probably one of mine though LOL)    But that is what I see the main difference in wholesaling without a license and licensed agents who do it for a living. 

So this reason I rented the unit.

Quote from @Jeffrey Duck: I see no reason to pay an attorney for this, but it's your dime.The current lease was between you and Person B.

If, for any reason, you needed to move your properties or looked to sell, we would be happy to waive that clause.  

@Mindy Jensen it seems that my messages are inaccessible as well for some reason

This is probably the reason why the previous landlord sold with tenants in place.