LLC vs corporation vs individual buyer
Hi BP community,
I have been going over the different forums here trying to get the hang of breaking ground on REI. We just opened escrow on an income property in Los Angeles and wanted to get everyone's opinion/input. It's a 4 unit rental property solely for income with 25% down and has a monthly gross income (after paying Taxes, P&I, and insurance) would be 800/month. We (me and my wife) already pay a lot of income tax due to relatively higher income bracket, since we do have full time jobs; I wanted to find out if it's good idea to form an LLC to help with saving on taxes vs forming a corporation vs leaving it the way it is? We don't really have any other assets so will most likely not need any protection on that front. We are using a real estate manager who will be paid a portion of the total rent collected as well as a handyman who will be paid per service episodes. Any input will be greatly appreciated.
Thanks