SMLLC by default is treated as a disregarded entity and taxed as a sole prop on Schedule C or a rental on Schedule E.From the IRS Schedule E instructions:"In most cases, a single-member domestic LLC is not treated as a separate entity for federal income tax purposes.

Not looking for a D property that is being passed along as a C or a C being passed for a B.

That contract will be grossly one sided, you can almost bet on that.

Does bonus depreciation only offset w2 income if reporting through NOL on sch c? or

Cannot make money building new Class C or maybe probably even B rentals.

I like to look tenants in the eye and see if they are turning their lives around and sometimes make a bet on them and let them know I'm doing so.  

I agree with Kris and Aaron that many investors are willing to forego the cash flow and bet on future appreciation.

Many of the properties that cash flow are in class C or D area which I doubt you would be interested in living.

The calculation I use is:I will pay 60 X monthly rent for a rent ready property in a C/C+ or better neighborhood. 

Without an election a taxpayer would remain a single-member LLC and the activity would be reported on their schedule C or E(page1) of their individual income tax return depending on the character of the activity.