We would like to keep the operating revenue and expenses separate from our personal stuff but want to file them along with our personal tax returns.

Hello, I purchased a piece of vacant land in LA county through tax sale.

Hey BP Fam, I am a current wholesaler that came across a property with a $120,000 tax lien on it.

Checking most recent tax year for tax prorations, instead of most recent mill levy (big difference since taxes went up 30-35% last year, $10k screw up I saw in real life by a buyer last year)3.

I understand that I will pay 10% in penalty as well as 24% of state taxes on it as well, leaving me with $50-55K.

Your greatest challenge is going to be running this management company without the appearance of co-mingling all of the LLCs together.Bear in mind that one of the things that you'll be doing here is converting Passive Income to Earned Income via the Mgmt Company and that will be subject to self employment tax whereas had you left everything in the property LLCs, you'd have only passive income. 

Basically trying to get the most tax benefits and protection as possible.

My tax lady said it’ll be considered a loss and not to worry about it.

From what i have heard, taxes 2% of the sales price, insurance varies between $3-5k, and HOA also varies.

I also pulled the trigger on 1 pasco tax deed sale.