@Steve Vaughan I think the magic number for SE tax threshold is $400, not $600. $600 is the threshold for 1099-Misc. 

@Savannah WalbertI personally like the SE with new construction below $300K that still cash flows well AND appreciates in both rents and market value.  

I am looking to take advantage of cost seg for a  2 unit MF property - which has tenants for long term rental  (let's call this property A)I know that in order to take advantage of cost segregation, there are no specific "status qualifications" per se, but certain conditions and considerations should be met such as 1) having a real estate prof status (i.e., spending more than 50% of working time & 750hrs pr yr in RE business) or 2) short-term rental status, rentals with a duration of less than 30 dys)I do not qualify with a RE prof status, but I will be acquiring another property with the purpose of having it for short term rentals (property B), please note that this property is outside of the U.S., so my question is: I don't qualify as a RE professional status, but can I use the acquisition of the short term/property B as my "short term rental tax loophole" for the purpose of the cost seg on property A?

This family member is fully trustworthy and doesn't need the income per se, but structuring it this way could benefit both of us.

If investment - proceed to Step 2.Step 2: since it's an investment, it's a capital gain, no SE tax, and 1031 is available.

Your non-passive income is subject to Self Employment (SE) tax and passive income is not.

It doesn't have to be a CPA per se, but I'd argue that a lot of the potential behind real estate investing boils down to what taxes you pay, what taxes you don't pay, and when in your life you pay them.

I was thinking about creating an s-corp to avoid some of the SE taxes on the flips.

Hi Taylor--I'm in the Milwaukee/SE WI area.

Hi Chris, I searched for properties near Eatonton that are available Nov 1st for less than $1200 on furnishedfinder.com and found 3 SE of Eatonton and 1 NE that meet that criteria.I chose $1200 because FF shares some of their data publicly at furnishedfinder.com/stats.