Who do I call, RE Attorney? CPA?

[Robert Campbell]

All:

I did my first flip earlier this year for proof of concept.  17k purchase, 11k rehab, sold 45k (45k - 28k = 17k pretax profit, no realtor) .  I am finishing my second one, which is going to be about 80k all-in, expected sales price 120k - 130k, I paid for the properties and the rehabbing cash.

Because my current project is not sold, and I intend to continue doing this, Its time for me to address 1031 exchanges, whether to form an LLC or another entity, and how to properly tax shelter profits.

Should I call an attorney / 1031 place I find through google search?  Do a consult with a CPA?  I am hoping someone can advise on how to get started, and I will be listing my current rehab soon (target July 1st) and need to set up a 1031 now, if that's the right thing to do - I am worried about having ALL of the funds tied up in an escrow account and having a timeline on when I have to make the next purchase, basically not being liquid.

Please advise, hope everyone had a great Fathers Day weekend!

Thanks,

Rob