One of that is to elect slower depreciation method. 

The thing is wasps are quite common in Denver and when leasing the property I specifically elected not to pay for any sort of regular Pest control for insects and bugs, such as Orkin, etc. 

Maybe you have below average skills in carpentry, so you elect to pay yourself $20/hour instead.

@Brett Grabowski, If all of those single member LLCs have elected to be taxed as sole proprietors and do not file their own tax returns and all activity of the real estate is reported on your own Sched E then you are actually the tax payer for all. 

@Brett Grabowski, If all of those single member LLCs have elected to be taxed as sole proprietors and do not file their own tax returns and all activity of the real estate is reported on your own Sched E then you are actually the tax payer for all.

Thanks for the quick feedback,Refinancing would save about 60k over the life of the new loan compared to the old load with the PMI, I also spoke with my current lender and there isn't much they can help with as far as the current loan other then refinancing, there rate seems high compared to a few others i talked too, so i will definitely shop around a bit. my next question i guess would pertain to these seemingly scam like letters i get and ads that pop up that go something like " under president obama you can refinance out of your current loan and cost you nothing if you owe less than 679,000" obviously nothing is free but are there programs like this?

The reason being is that one of the option for reducing taxes on active income (such as flipping) is by utilizing an S election...which is an election made on an LLC. 

@Thomas Hausfeld welcome - have a few buddies that graduated from Bishop Caroll as well as my mother - but WAY before your time...ha - Take some RE classes as electives at WSU - they have some pretty good teachers - the head of the RE dept is a great guy - can learn lots from him and get a few doors opened if RE is what you're interested in. 

When I am seeking lenders that hold their own paper I (1) go to the local REIA and find out who partners and lends privately, but that will take some time building relationships (2) go to smaller more localized banks, not mortgage lenders or brokers as they by definition are selling their loans.I have also found that if you go to banks in smaller markets outside of the metro, where there is only one or two offices that you often deal directly with the bank president and can make some great loans and connections.And I just posted this on another question - but go to local REIA meetings, meetups and the like, talk to people, vendors and build relationships and you will be able to get some great referrals - just like here at BP, only live and face to face - I think there is even a live BP meeting in Waldo this week? 

There is no election.