Opinions needed on when to incorporate

[Kathryn Bennett]

Hello everyone,

I am looking for some opinions regarding incorporating. I currently only have one investment property and I'm seriously wanting to start a property management company alongside REI. I've been told to operate as a sole proprietor until I have actual assets to protect/income from the business. I don't want to make the mistake of setting up an LLC or S-Corp too late and running into problems, but I don't want to deal with fees and a ton of paperwork for a business that isn't creating income yet. Has anyone dealt with this before that can give me insight? I'm pretty new to all of this, so suggestions are greatly appreciated and I'm focused on learning more information everyday.