Company Structure / CPA Referral

[David Edelstein]

I am starting a new house flipping business and have questions on how I should set it up.

1. To start the company I will take a cash-out loan on an existing investment property. This will be roughly $500k.
2. I'm going to flip house $50-$100k purchase price and sell them for a $20-$40k profit after renovations. These can be in any of (4) states PA, NY, NJ or CT.
3. How should I setup the business to do this for the best possible tax scenario?
   1. LLC as an S-corp. I've been reading this is the best way? Does it matter what state I set it up in, any benefits? I live in NY so I figure that would be the easiest?
   2. Should I set up payroll and pay myself? Should I start this right away and start paying myself a salary from the $500k? and pay taxes on that? Would hate to pay taxes on money from a cash-out refi, but if it makes sense then.
   3. How much should I pay myself?
4. I want to quit my job and do this full time, but I won't make a sale on a house for probably 4-6 months.
   1. Again, thinking about how I should be paying myself and payroll taxes during these initial months with no income coming in.
   2. Also, need to think about building up the business credit for future funding of developments, etc. A good reason to start paying a salary (and taxes) off the initial $500k?

Finally, I'm in NYC (Brooklyn) any recommendations on a CPA that I can work with? 

Thanks ahead for the input, all the best!