So my wife and I created an LLC with an EIN and are about to fund a company bank account with our savings.

Given this, I am going to be creating an corporation in the state where I will be buying properties (Florida).

If we plan on purchasing more investment properties in the future do you suggest creating individual LLCs for each property for further protection?

@Karen Higgins Short answer: If you OR your husband are not a 'real estate professional' then unfortunately there is a limit to how much of the passive losses created by depreciation (accelerated or not) can be used to offset your 'active' income.

This will tell you how much additional tax your property created. 

I would be interested in seeing how I can help and possibly create a win-win situation let me know what your working on and how I can help thanks.

p...It's free and you may have to create a new account..Or this website for the state of Michigan: https://publicrecords.netronline.com/state/MI/And for Oakland county: https://www.oakgov.com/clerkrod/rod/Pages/landacce...Good luck...

The problem with that scenario is that I haven’t found a place that falls in our budget (aiming under 80k) that creates cash flow or at least breaks even with only one side rented.

So this creates kind of a circular reference but your tenant isn't being double charged. 

*None of this post is intended to create an attorney-client or CPA-client relationship.