An S-corp on top can make sense for active income (flips, wholesaling, property management), but it doesn’t usually reduce tax on pure rental income and can add payroll and multi-state filing complexity.With multiple states (NC/SC/GA/FL), you’ll also want to factor in state filing and nexus before stacking entities.You’re smart to think about protecting assets and your 22% bracket, but I’d model a simple version first (just LLCs + your current return) and only layer in an S-corp if the numbers and activity level really justify it.

One more reason why people should stop looking for the easy path to building wealth.Increase earnings, reduce expenses, save, and invest.

This reminds me of a saying:"Stepping over dollars to save dimes"

.$250-$500 worth of an attorney could have saved people $40,000. 

I’m a small landlord with older multis in NYC. I used to play defense with compliance. Meaning: I waited for the city to tell me what I missed. That game ends one way: fines and Saturdays spent calling plumbers who do...

.: I want to organize my business books better to be able to quickly apply for loans, LOC, share with an accountant, file taxes, etc.

Also at this time in 2020 the property owners filed a Complaint and brought a QUIET TITLE Action Motion for Summary Judgment against the 1st lien Mortgage Note holder (remember originally was a Subordinate 2nd lien that then slid into 1st lien position when the 1st lien was paid off in full around 2014).

We file our taxes jointly.A friend and I own 2 rental properties as part of a 2 member LLC.

Do I move forward with eviction early to save months of no payment?

But, the market is still strange and it's hard to make the math work outside of the tax savings.