@Nicole GrazianoI recommend that you have a consultation with a real estate tax accountant regarding your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip. 

Jimmy,You need to show (2) years of 1099 SE income in order to use FHA, or traditional financing to get approved for a mortgage.

If you did a cost segregation study on the property in the past, you may have to recapture the depreciation taken in the past.capital gain tax rates are 0, 15 or 20%There is also a potential 3.8% Net Investment Income Tax.Also, don't forget state income taxes depending on what state the property is located or your state of residency.Best of luck!

We are in a very low tax bracket this year but should be 10% higher in 2025.

I am seeking mentors and or guides to help me invest in business that can eventually help offset W2 income tax.

I was lucky to split the sales over 2 years, so the first ~80k gain is tax free and 80-480k was at 15%, which I was able to take advantage of twice.

It is most likely 2025 income.

So you are already paying tax on the income.LLC taxed as an S Corp would be different, but I doubt that is your case.

Feel free to reach out to one