Other than great BBQ, I do know that colleagues have found success achieving the goal of cash flow.

Moving into RE investing to achieve financial freedom.I'm in BP to grow in my knowledge of investing, and network with other Investors.

.- Each unit is 3BR / 2BA,1200 square feet.

When you achieve income, you can then pay yourself from the S-Corp using the 1:2 salary / dividend split to minimize your self-employment tax liability while still showing an income to prospective lenders for personal credit.Additional LLCs are likewise are part owned by the S-Corp and your trust so tey multi-member protection.Remember to insure all of your entities and all or your holdings.Hope this helps ...

You are essentially doing this with a duplex, and I see no reason not to do it again if you can find the right unit. I

Imitate success to achieve success. 

If the paint and flooring were each less than $2,500 on separate invoices, can I claim them as de minimis or is the cost of the renovation included with the painting and carpet and therefore the cost to the unit is over $2,500?

Just as you suggested, 40 and the work that is involved achieving and holding, might be way too high?

Feel free to ask any questions on how I can help you achieve your goals. 

Hi all,I'd like to get some advice on the following.I own a couple of properties in central California with potential for building up additional units on each one of them.The first one is a tiny single family home (~800 sf) on a big R3 lot where I can get a permit to build 2 or 3 additional units (although the cost of the permit per unit is much higher if I build 3 or more units, so I might stick with 2)The second one is a duplex, 2 1-bed small homes on a big R2 lot where I can build at least 1 more unit.