CA help please LLC vs S corp vs Sch E

[WITAXLADY]

Client purchased a property that she will rent out commercially and some air BnB's from. Her  insurance agent said with 1MM insurance coverage, she does not need an LLC as the property is in her name. She has a very nice business and another high value property.

I said do a Quik claim with a new LLC.

She wants to do a S corp- I said it's a Sch E - just do the LLC

WI - no brainer, $130 and $25 a year!

CA? $800 a year annually and some paperwork - I almost think it's worth  the LLC?

Thank you!

D

 

This one is a neighbor moved to CA and has the other nasty trust where the dad was to be released from the hospital. While unhooked waiting, was served lunch and choked and died on a piece of apple crumbl!