The complex had a larger share of domestic problems, but lots of new builds in the area meant that my unit would increase in value.

Anyone in Illinois, Chicago, etc. should be outraged and needs to send e-mails today to their elected officials. 

My two cents: if you make less than $100k a year through the "business", go disregarded entity or sole proprietorship.If you make more than that, onboard a tax professional as an external partner on your team that can do the analysis and have the conversation with you.Do not elect S just because an you've read an article which happens to focus only on the SE tax savings. 

I know he meant well.I want a watch dog on my team, but I want that watch dog to be supportive of my rational, educated choice to move into REI.

These lenders are slightly above bank rates, but with the longe amortization the 30-yr can still keep your monthly PITI competitive with the 25-yr am offerings from the cheaper bank-type lenders.Also, when you say 21-units I wasn;t sure if you meant a portfolio of 21-units across a portfolio of 1-4 Unit properties, or a 21-Unit MF?

If you elect an extension for S-corp, would you just estimate your K-1 for your tax return and then be forced to file an amendment after you complete the 1120s?

@Pamela Gondeck my guess is the agent meant that home owners do unpermitted work.

Even if you meant 31,000 for one, that has almost no value in Norfolk except for the property adjacent to it.  

After the election in my experience the nonsense usually falls by the wayside for a while, no one is standing for election for a couple of years.

No elected politician wants to be known for giving a break to the evil landlord, so if such a list were published it might spark politicians into action to change the system in favor of tenants.6.