LLC or S-Corp for Short Term Flips?

[Patty C.]

Hi Everyone,

My family and I just flipped our first property and are ready to keep going but we want to make sure we're doing it right. Basically there are 3 members using cash to buy properties and flip them. What would be the best route, forming an LLC or an S-Corp? I did some research on Series LLCs but we're only doing one property at a time so that doesn't seem necessary, correct? Maybe down the line we'll do a few at a time but we're really doing this on a small scale for now. We're looking at doing 4-6 properties a year so we're mostly concerned with making sure we're doing this right for tax purposes.

Thanks!