Considering adding a construction division

[Jeremy R. Henley]

Our flipping business is starting to take off and we have settled in on a good set of specialty contractors and I have partnered with a solid GC.  We have discussed starting a separate construction company since we continue to get leads for jobs that are not flips.  My quick background prior to real estate was selling in the corporate world and leading sales teams.  My GC has done lots of construction and managed crews and is doing a nice job on our flips which have kept him busy but as our system has come together we believe we can scale up more projects and another business.  Seems like a good way to grab more cash BUT I want to set up the company the right way with proper licenses and insurance, etc. I would love some helpful hints and guidance from the group on taking this step.
 

Thank you in advance for any helpful insights.