Also as an aside, she should have told you from the beginning that her mom was subsidizing her rent, and you should have screened her to make sure her individual income was 2-3 times rent.   

Please provide recommendations of someone you might have used/have experience with in Florida (preferably Central Florida Orlando area). 

They are treated as two individual properties and not as one.

And as @Ian Ippolito , mentioned, the entity sometimes pays composite taxes so that you don't have to individually file state tax return or pay state tax return.

I have the funds to purchase my first apartment rental (preferably a 4 units close to West Orange, NJ).

:)   I assume gas is preferred from a cost perspective?

Being around like minded individuals really helps on the journey.

By the same token, If the hunting season is short and the winter is long in the Yampa Valley does that mean that a property you put into Cabellas Preferred hunting lease program isn't being held for investment when the Elk are in Utah and snow is on the ground - nope, that's still being held for productive use awaiting the next season.It's the same as any agricultural land. 

To even consider before you start construction you would need an executed lease with a large non-refundable deposit upfront to show the tenant is serious and committed to the sight.If this tenant is not larger corporate but smaller individual or group there could be serious risk to building the project and then the tenant ends up falling out before taking occupancy.

I want to make sure I'm allocating enough of the profits to taxes.Account Closed say how landlords are among the most advantageously taxed individuals, so I'm looking forward to seeing that firsthand when I file next year.