See a tax advisor

What will your combined W2 income be after taxes when you get married?

I dont think the terms allow me to post a link but here are some basics.Has been occupied avg of 17 days per month since Sept.managed by a top tier company and has 4.8 star avg reviews.Also would be a good family home (large private lot, fenced yard, hot tub).It has the benefit of being near Austin downtown, but NOT in Austin city limits (9 miles to city center), so lower taxes and no STR rules (default to Travis County rules).I have read the forum posts for similar situations, however every market is different. 

Hey Russel,Admittedly, I do not know BAM; I am curious about what is driving your interest in/decision to invest whether its a preferred return or more back end equity, or just tax advantages.The market has definitely put some operators' projects in distress, and it is very unfortunate, but the flip side is that other operators are able to use stabilized financing to acquire these distressed assets.Our operator partners are seeing an almost 20% discount as they are acquiring assets today.

Yes and I agree don’t lower the reno budget  

That being said say it takes 2-3 years to move out rents could and likely will be higher and you could potentially refi to a lower payment.

We would like to keep the operating revenue and expenses separate from our personal stuff but want to file them along with our personal tax returns.

Those deals are typically in the multi-million range and the loans are typically non-recourse which changes the profit at a lower percentage and it changes the risk as being non-recourse.

You need to talk with your attorney and tax advisor to determine the best structure for you and your goals.One big positive in LLCs, even though the cost to finance is much higher (more down and higher interest rates), when you get commercial loans, they will no longer be on your credit report.  

Sure commissions are lower but I pay for that with time.