You can start with the city website www.coj.net for the building department or property appraiser or the tax collectors office www.taxcollector.coj.net As for the structure of your deal just read the forums about llc v Incorporated and all the good information that can be found in there.One other thing I did with my units that many may not agree with is that I get a general liability coverage for each llc related to that llc and I would get an umbrella policy for you as well.

Franklin County is doing a mass re-appraisal process for property taxes in 2023.

I glanced at your numbers and the property taxes are about $2k per year.

Hi,I'm looking for a CPA to give advice on a tax situation in the southwest suburbs of Chicago.

Thus, my tax return will reflect the higher income in order for me to make purchases without the need for a W2.

@Brian Eastman    Thanks Brian for your response.Being in California, the $800 annual tax on the LLC isn't great, but I'm willing to pay it if we need to go the LLC route.

Most of the specialty cost seg providers will do an upfront analysis and give you a range of the potential deduction and take into account your federal and state tax bracket to determine the tax benefit.  

City permit means nothing, it's just a tax.

@Ivan ChirollaThis is not a black and white matter, and would be best addressed by speaking with an ERISA Tax attorney.Technically, a parent in-law is not a disqualified person to an IRA. 

Building a network of like-minded people can lead to joint investments and new opportunities.Now, consider the tax benefits.