business entity, LLC, S-Corp

[Ryan F.]

So I am just starting out in real estate investing and I am currently in the process of learning about business entities and trying to figure out which setup would be best for me. I know there isn't just one right answer, and it depends on the type of investing and your goals and everything, but I was wondering if anyone had an opinion for someone just starting out like myself. I am interested in flipping houses to raise cash to then reinvest and eventually acquire rental properties for long term passive income. So I would be doing both short term and long term deals. I have heard that an LLC is best for long term holdings and an S-Corp is best for short term deals. I am not sure why S-Corp is better than LLC for short term deals. Should I set up both? Or should I just set up an LLC to do both types of deals? Obviously, I want the best tax advantages possible and best asset protection. I am in Pennsylvania if that matters. Any input or recommendations would be greatly appreciated! Thanks!

Ryan