Does it make sense to open a Nevada or Delaware corporation?

Ana,I'm still a rookie, however working with a singular local insurance company on our rental policies vs corporate ones is worth a little extra a year.

So, the same number (and income type) still shows up on your 1040...If you want to make it really complicated, your multi-member LLC, assuming you have a mult-member LLC, can elect to be taxed as a S Corp or C Corp. 

These must be setup through a partnership or corporation (usually you'll create an LLC expressly for this purpose).

This conversation is so prevalent that I feel like there is some big time lobbying money or corporate initiative trying to convince the general public that a credit inquiry is financial suicide. 

steveI did a podcast last week with an advisor who mentioned a loophole in the covid situation whereas if you were affected (again this is step 1), people could take money at of their corporate 401k and put it in a self directed Ira.

If you currently dont have real estate in your name, look into NACA (Neighboorhood Assistance Corporation of America). 

We will be pre-screening future potential tenants via a Google Form, an idea we found here on the forums and have already put into action.The potential tenants are a younger couple, are "very interested" in the unit, applied to our listing on Cozy within an hour of viewing the unit and each purchased the credit & background checks as well.The couple currently live separately from one another and they're now looking for a place together.Brief background on the girl:- Non-smoker- Monthly income meets the 3x rent requirement- Background check looks clean (SSN Trace, Civil, Sex Offender, Global Watchlist, National - all are Clear)- Credit score meets the 620 requirement- Credit report looks okay with the majority of her lines of credit showing as currentBrief background on the guy:- Non-smoker- Currently unemployed due to the coronavirus situation- Background check looks clean (SSN Trace, Civil, Sex Offender, Global Watchlist, National - all are Clear)- Credit score does not meet the 620 requirement- Credit report looks horrible (no lines of credit are current, and plenty are in collections)Our thoughts & concerns at this point, and I'm trying to place weight on those where we should and lessen the weight where we shouldn't:-The girl seems to be friendly & polite, her parent's live nearby, and her credit/background checks indicate that she's relatively financially responsible.

Look into NACA.com (Neighborhood Assistance Corporation of America). 

I am starting out from scratch after my divorce and am interested in setting up the right corporate entity and accounting for all of my expenses appropriately.