What is the cost of owning a flipping business?

[Maxwell Naruszewicz]

Hi,

I am in a tough situation. I am at a point in life where I either need to go into a traditional career or go flip. I would rather flip. But I am wondering what passive costs there are to flipping. I am talking about costs besides whatever holding/renovating/working costs. Say I had no flips going on at the moment, what money would I be losing right then? What costs are associated with an LLC? I know that it is smart to buy real estate under an entity. Thank you.