What are the unintended negative consequences and other facts that should be considered before making the Grouping Election for my Rental Real Estate Activities?

This is a question for your accountant or attorney. TurboTax does not give tax advice. However, there are sites on the internet that can give you some guidance.

https://www.kahnlitwin.com/blogs/tax-blog/the-pros-cons-of-making-the-grouping-election-for-your-ren...

https://www.journalofaccountancy.com/issues/2014/aug/rental-taxes-20149906.html

http://wecpas4u.com/~samwheel/images/Activity%20Grouping%20Election%20II.pdf