The worst PM imitation I ever had the misfortune of employing

The worst PM imitation I ever had the misfortune of employing for any property

LLC orS-Corp.Don't be in the wrong type ofentityFirst – Asset protectionbenefitSecond – Tax savings benefit Rental Real Estate – 1031(same in LLC or personal name)Syndicate - 15% or more in taxsavings, self-employment tax (flippers may use this) Expenses for write off &deductions: equipment & appliances, home-office ($5 per sq ft.), travel costs (related tobusiness), kids (income shifting by payingthem to work for you, meaning business related), membership, conferences &education, meal expenses for business, retirement strategies (selfdirected investing, tax-free or tax deducted, 401K/IRA)depreciation Pro-active Planning / Get a taxadviser Talk to your tax adviser inadvance Fire OutOrganize expenses, listquestions, changes (buy, sell, etc. properties.)Changing entity type from LLC toS-Corp etc.

Have you verified her 3x income with the employer?

Do they do an employment and income verification?

If you don’t possess, or don’t YET possess those abilities, then stay away from creative transactions, unless you employ someone who does have those abilities to respresent you.  

I would speculate and say that about 2000 people will be employed there for the next 2 years for the startup.

You will eventually want your nonpassive income to be flown through an S corp so you can lower the amount you pay into self employment tax.

The worst PM imitation I ever had the misfortune of employing

The impact on w-2 happens if you're contributing to an employee sponsored 401k plan with that employer.