They designed a very nice postcard for me and i sampled a batch of about 1500 postcards to a list I provided to them.My results....7 responses (0.46%).The list was Out-of-State owners I pulled from the tax records, of which I got about a 13% response rate using yellow letters.I'm not going to say anything bad about them, I just don't think postcards work well for finding motivated sellers in my area.

The taxes on this property according to the listing is $15,000.

Not to mention I got to write off over $175k from my income taxes using a cost-segregation study.  

You will learn about property management, taxes. contract law, and people management. 

I'm curious on how best to structure this approach: Who owns what, who gets what, rental income & depreciation (all tax treatment).

I have a fund seeking to make section 8 investments on 4 or fewer unit properties in landlord and tax friendly states such as Nevada, Florida, South Dakota, Utah, and Tennessee. 

And Jake Mercer has posted a lot of helpful arbitrage tips on this forum which you can find on his profile page.

Can anybody advise me on how to treat this for tax purposes? 

My question is what is the best way to set up out LLC, and should we be taxed as an S-Corp? 

It helps to have started when $15k got you $700/mo in rent.haha,Love you to mate.If James was "over sexed" he would have less of an "urge" to bombard us with so many key-words.I hate to love him 😘10+ years ago we got 1 Toledo keyword every other week.Not it's almost 10 per day.Happy for Toledo and always has a special place in my heart.Yeah mate, those $15,000 deals are just a dream now but we had a 10+ year run so can't complain.Cheers to another 10 years and keep being great 🙏 I'm still buying, hell I am still filing tax value appeals so they are below the friggin value there.