In my book, if you're paying ordinary income tax on your real estate profits you might as well be working a job.

Most ESAs are just ordinary pets that people are trying to sneak in by doing an end-around. 

we did nothing in here but paint, floor, baseboard, and lighting.Back patio. 

Although a barebones or weak Operating Agreement might not cause too many problems with an ordinary LLC, that would be tantamount to suicide with a Series LLC.

You don't pay capital gains on flip -- you pay ordinary income taxes at your marginal rate plus self-employment taxes.That said, I don't consider my after-tax profit, just pre-tax. 

If your income is between $100k and $150k, you will be able to deduct some (possibly all, depending on the amount) of your net rental real estate losses.4) Check out Schedule E for a starting point.5) Anything that's ordinary and necessary in the course of operating your rental business.

I'm just an "ordinary joe" :)

Originally posted by @Dylan Phillips:I would say it's not too out of the ordinary.

Originally posted by @Teague Anderson:For those who use lines of credit, is that only for acts-of-god types of repairs or vacancies, or for ordinary capex, like a new roof?  

Real estate lets you pay less taxes on both your passive income and ordinary income which can be a significant advantage, especially for those with a net worth under $5 million.