Once again, we find another recession indicator flashing red.Given the multitude of economic crosscurrents, it’s crucial to seek the best assistance available to mitigate taxes, and manage expenses to navigate through potentially turbulent times. 

So, it will be taxed as ordinary income. 

No personal income docs or taxes needed.

A staggering 86% of households earning under $25K spend over half their income on rent, highlighting the acute affordability crisis.Urgent calls for policy intervention, including incentives for housing production like the potential reintroduction of the 421-a tax abatement, are echoing through the city as leaders grapple with the severity of the housing shortage.

If you are looking to use your W-2 and tax returns to qualify, you would be using a conventional loan, which typically don't allow LLC vesting (unless you transfer the deed later).

So there was a SFH listed for 225k in which the seller relayed that he was willing to take care of all the town inspection requirements if necessary (They conducted a town inspection in April in which it had passed but had now expired so another one was needed prior to closing).

But Non-Farm Productivity was much better than expected at 2.3% vs estimates of 1.5% and it was a big-time gain over the prior reading of -1.7%.

Pittsburgh is very affordable and the taxes are low outside of Allegheny County.

You need reports for taxes:   sum ALL rent collected for the prior year for your prop management s-corp 1099. 

My understanding is that the $480K qualifies for 1031 treatment and tax deferral.