@Chris Seveneyi apologize in advance if i didnt understand this right, but im confused about a specific part about what you said.In your example, when you say banks will want 20-30% down when I refinance, it sounds like your saying that i need to come up with $40,000 "out of pocket", but I already have that in equity in the property. so theres nothing more i need to put down out of pocket except closing costs and other bank related fees, that is what you meant correct?

I'm sorry I meant if you do a double close it's so the buyer WON'T know what you bought it for.

Here's where I face the dilemma: I'm meant to be planning on going to university.

I thought "rental investor" because I thought that meant more moderately discounted (based on the condition of the house) not the rock bottom price as a flipper would want and I wouldn't have to worry about totally remodeling a house for some cute little starter family. 

It sounds like that's what you meant by "hobby."

They offer the ability to elect federal tax status and you can opt to be taxed as a partnership or sole proprietorship and avoid tax at the entity level.

A hosting platform may elect to collect and remit taxes on the operators behalf, but must inform the operator.

There is also a $2,500 deminimus now - So....you might be able to expense an item up to this amount if you make the election on your tax return. 

Here is a good article explaining one of the reasons why many people advise not to elect to have your LLC treated as a S-Corp or C-Corp if you intend to buy-and-hold.

Jeremy Pakalka Meant to notify you about above post