Main Question: Can I take the profits from my S Corp business and then buy rental properties (as LLC’s) and show the real estate purchase as an expense on my business, therefore lowering my taxable business income (down to zero if I spend all of the profits on real estate)
Background: I run an Internet business, I just recently created an LLC (I will be filing taxes as an S corp) . Can I add additional LLC’s to my business and structure it so that I can buy real estate rentals with all of the profit and show that I did not make a profit on my S corp Internet business?
It recently dawned on me that this may be possible, before I thought I had to get taxed on my Internet business, put the money in my personal bank account and then buy real estate. I saw this Grant Cardone YouTube video and then started to look into it more and so this Reddit post is to check and validate if this is even possible. I am sure this is a dumb questions, but accurate advice would be much appreciated.