Depending upon the provisions you have included within your OA, they have varying risks and mitigation should your company ever be sued.A CPA can be helpful to consult for determining certain tax elections and other aspects of how you wish your entity to be treated for tax purposes.

@Spencer JosephIf you are really treating this as a business then treat this as a house hack on your behalf.  

Also, if you are not going to occupy the home, you need to tell the bank you'll need a Non-Owner Occupied Mortgage loan, b/c apparently, treating it like your own home and then turning around and making it a rental is ripe for mortgage fraud.

@Ryan LesleyHouse hacking makes your tax situation more complex.You purchased a property that is treated as both an investment property and a personal residence.

It may or may not be appropriate to treat a sale as capital gain property even if the intent was to flip. 

If you earn income as a landlord, you don't pay SE taxes, even if you're a real estate professional.Isn't the entire reason to declare as a RE professional (not a realtor), the ability to change the income to Earned, which lets you also treat the loss differently?

A limited income were treated against poor and control over you.  

Because as soon as you sell them, you have a taxable event.The beauty of real estate is that you can structure your deals so that they are set up as investments, which are treated favorably under tax law.I recommend that you discuss your business plans with a CPA who is familiar with real estate investing and who then can advise you on how to structure your ventures to lower your taxes.

@Andrew D Hansen If you take the property out of service as a rental and treat it as a second home (for instance), then you can stop depreciating it.

I had tenants who signed with me back in early 2017 and for the majority of their time treated my house well and paid rent on time.