Floridians are barred from using it. ;)If you are looking at buying rental properties, LLCs will not change your taxes, and S-corps will increase your taxes.

You might want to see if you are eligible to treat the property as active instead of passive.This might result in a large tax refund.Best of luck!

What Chase said here is spot on, especially the part about flips being taxed as short-term capital gains (which really just means they’re taxed at your ordinary income rate) if you sell in under a year.

Curious how this affects our taxes.

I was wondering if anyone could help me estimate taxes and insurance for a duplex in Dayton, OH 45410.

Bryce, you're asking this question on the tax forum where over 20 of us, nationwide tax experts, answer tax questions.

You should hire a tax professional to create a strategic tax plan.

It’s awesome you’re thinking about this so early, that alone puts you ahead.From a tax perspective, the biggest advantage you have right now is time.

As long as you have lived in the property for two out of the 5 years prior to selling it, you will get to exempt all gain tax-free.

Here’s a comparison of average homeowners insurance costs and property tax rates in 2025 for Florida, Nevada, and Texas:StateAvg.