Unless the investor in a flip is prepared to add substantial value by fixing up a property, don’t participate in a flip.

The return was prepared by a CPA, and I followed all his suggestions...

I'd say be polite, follow the guidelines to a "T" & be prepared - make it easy for the assessors! 

@Jean Paul Rousseau C-corps cost more to prepare, but it does seem high to me.

A real estate investor, who we funded loans for in the past, confided in me that he was preparing to do a new property acquisition using a friend’s private funds.

Consult your lawyer, who can prepare the necessary documents.

Painting, Tiling, Carpentry - it's all very therapeutic for me and beats the heck out of driving a desk and preparing spreadsheets and reports all day, which nobody ever looked at (which was my prior job).  

Just be prepared to deal with the spam that comes with every new website and blog.  

My suggestion to you is that you take some classes in college to prepare you for investing in and flipping properties.  

Having said that I am prepared to just allow her to give me the thumbs up, when if feels right.