Any one doing it this way if so, any good info or lessons learned would be appreciated.Had our LLC few years, (stagnant/not used), have not selected S-corp or C-corp with IRSFrom what I gather best form will be S-corp.We want to transfer our first rental from our personal profile and into the LLC.

From the IRS:"You will be liable for social security and Medicare taxes and withheld income tax if you do not deduct and withhold them because you treat an employee as a nonemployee, including yourself if you are a corporate officer, and you may be liable for a trust fund recovery penalty."

If you start making mistakes and pay for one property's repairs with the LLC of another property, you have pierced the corporate veil and likely would have your LLCs thrown out if a lawyer tried to get past their protection.On the other extreme, it doesn't make sense to put all your eggs in one basket. 

MOVE to a NO income TAX state OR set-up corporation in NO income TAX state holding co.OR look into NO TAX paper plays if you want to get out of physical.1031 is NOT the only way to NO taxes.You can also set-up a NON-PROFIT and donate the property, assets, etc.THEN PULL any reasonable salary you wantfor your entire family, friends, etc.It really depends on your goals?

I do understand I may have to set up a corporate structure for tax/legal purposes.

I’m thinking maybe corporate housing?

Are you looking to put this property in your own name, or are you putting it into a corporation? 

Why would you think of two corporations is even more puzzling.

According to AB 1482, landlords are required to use the CPI from the previous April for their specific market area to calculate the allowable rent increase.Properties that are exempt from rent controlIn general, California rent increase law is aimed at multi-family apartment complexes and provides a number of exemptions, including the following:SFRs (single family residences)CondominiumsOwner-occupied duplexesMobile homesSchool, college, and university -dormitoriesHotelsRental properties built within 15 years prior to the Act, including ADUs (accessory dwelling units)Properties that are not owned by a corporation, REIT (real estate investment trust) or LLC where one member is a corporationProperty provided by non-profit organizationsProperty that is subject to pre-existing local ordinancesLandlords for exempt properties must provide a notice of exemption from AB 1482 to their tenants.

In fact, a Rand Corporation study of active duty Air Force members found that the average tour length (length of time in one location) is 53 months for enlisted Airmen and 34 months for officers.