When the bonus election is chosen, then the portion of the property's value with a useful life of 20 years or less can be taken as a passive loss in the year the property is purchased.Keep in mind, some property types will produce more bonus depreciation than others.

Ensure that the benefits you gain from the added complexity justify the additional expenses.Local Regulations: Consult with an attorney who is familiar with both state and federal laws to ensure that your chosen structures comply with all applicable regulations.Simplicity: Simpler structures may be easier to manage and maintain, which can be valuable in the long run, especially for individuals who have multiple properties and business interests.Ultimately, it's advisable to seek advice from a qualified attorney or financial advisor who specializes in asset protection and estate planning.

BTW, Florida IS a super priority lien state.You have chosen one of the highest risk arenas for investment.

I started my REI career at 43 only after my wife and I had well established careers with high income that provided extra cash for RE investment even after living our chosen lifestyle.

Unless you know exactly when the next dip in the market will be you could be attempting to gamble on that and lose if nothing happens for awhile.

We've chosen to dive in completely self-funded...not the easiest or quickest route, but I think it works well for the plan and pace we've set for ourselves.  

I have a couple of potential deals in the works, but I haven't chosen a bank in Memphis.

Then gamble await - - even a blind pig finds a truffle once in a while.

Oh and actually, we have chosen our escrow company in the past and the short sale bank had no problem with it..

@Austin Macon my best advice to you is to get a job that has to do with real estate. please don't get a part time job that has nothing to do with the career you have chosen.