I came across this article from Kellogg Insight showing how online sports betting is eating into people’s savings.

This Monday, we finally had a qualified tenant apply that checked all the boxes - excellent credit score, clean background, high income-to-rent ratio, and her employer and rental manager had nothing but kind things to say about her.

I am telling you because that's my life :) You mentioned financing strategies, but your last point about connecting with people is probably the most important one.

We sold our largest self storage location.

Most investors I meet don’t realize you can buy the mortgage, not the property.
It’s a great way to build cash flow without maintenance or vacancies.
Anyone else investing in notes or thinking about getting started?...

Verifying last 2-years of rental history and income/employment extremely important to find the “best of the worst”.Tenant Default: 20-30% probability of eviction or early lease termination.Section 8: Class D rents meet program requirements, often challenges to pass Section 8 inspection.Vacancies: 20%+, depending on market conditions and tenant screening.Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciation.Where did we get our FICO credit score information from?

Also in the state of New Jersey, I have been creating my own operating agreements, I just want to confirm that I am doing the right thing.Thanks in advance As other people already mentioned, you most likely will not reduce your taxes at all with LLCs if you are planning to merely hold rental properties.

Since your businesses are producing active income, you’re taxed on the full net income amount for self-employment tax.

You could see if she can obtain a letter, paystub statement, etc from her employer showing that her salary is not being paid currently.

They’re not just working harder; they’re working smarter with the S-Corporation tax strategy.But before we dive in, let’s clear one thing up:*This only works for active income.That means flipping, wholesaling, commissions, construction, or property management income.It does not apply to rental properties or long-term passive investments — and putting rentals inside an S-Corp is one of the worst tax mistakes you can make.Let’s break it all down:Step 1: Why the S-Corp Exists (and Who It’s For)An S-Corporation (S-Corp) is not a special type of company; it’s a tax election.You can form an LLC, then elect for it to be taxed as an S-Corp.It’s perfect for people earning active income — anything where you work for the money:-Flipping houses-Wholesaling deals-Real estate commissions-Property management fees-Contracting or constructionHere’s why:A sole proprietor or regular LLC pays self-employment tax (15.3%) on all net income.An S-Corp lets you split your income between:a “reasonable salary” (subject to payroll tax)and “distributions” (not subject to self-employment tax).That simple shift can easily save five figures a year once your business income hits the six-figure mark.Step 2: How the Wealthy Use It to Build Explosive WealthHere’s the play wealthy entrepreneurs use again and again:They pay themselves smart, not just more.Set a reasonable salary — what the IRS expects for your role — and take the rest as distributions to cut payroll taxes.They reinvest the savings.The extra cash that would’ve gone to taxes gets redeployed into more flips, marketing, or acquisitions — compounding their growth.They hire strategically.Many bring family members into legitimate roles, shifting income and creating generational wealth legally.They layer entities.Example:S-Corp runs the active business (flipping / wholesaling / management).LLCs hold the long-term rentals.That separation protects liability and keeps tax treatment clean.Why S-Corps Don’t Work for Rental PropertiesHere’s where many investors go wrong — using an S-Corp to hold rentals.