Thanks @Ryan Bakke, CPA. This helps a lot. For the single-member LLC option, would my wife and I have to own separate SMLLC’s and then have both LLC’s take title to the replacement property? Would that be the correct structuring? Thanks!
- 🐋 Why do you want to save money on taxes? Not just “to save money” — but what does that money mean for your life? Every dollar I am able to keep allows me to buy back more of my time. More time with family and to do what matters most. Taxes saved equals opportunity to buy more assets. - 🐙 Where are you right now in your journey? Just starting out? Own rentals? Flipping or doing STRs? Have one STR and currently working on acquiring #2. - 🏖️ What’s your #1 challenge right now — your “big domino”? The one thing that would make everything else easier? Building my network.