One thing I keep wondering about is if we should for an LLC or a corporation of some sort to protect our personal assets.

Gains" from flipping are considered ordinary income, potentially subject to SE taxes.Usually they're reported on:-Sch C (if LLC is taxed as a disregarded entity owned by an individual)-Page 1 of Form 1065 (if LLC is taxed as a partnership, or a disregarded entity owned by a partnership)-Page 1 of Form 1120S (if LLC is taxed as an S Corp, or a disregarded entity owned by an S Corp)-Page 1 of Form 1120 (if LLC is taxed as a C Corp, or a disregarded entity owned by a C Corp)

The mortgage guy based everything on my husband's current job/salary (called corporate and they verified my husband was employed, his salary, etc.)  

No need to have someone else as registered agent.......unless you’re anal about being anonymous (I never cared) and your state corporations site doesn’t list the members anyway, like FL does.

None of the Above.Most of those degrees will make you a good corporate employee, working for someone else's company.If you want to start a company, why do you need a degree? 

There's a lot of shiny objects out there now that are luring people to ditch their 9-5 to become their own boss and find a lifestyle design model that they enjoy more than the one they're stuck in.Hey Odie, I’m not a lifestyle speaker so I can’t speak to that area.I’m someone that got fired from his corporate job in 2004 and have been self-employed ever since.I’ve had countless businesses that have failed 1) Safe and Sound pet care biz 2) Mobile Home King 3) Why Go Solo (tech company…what was I thinking) 4) Toolkit for Success 5) Note partnership (still love the lady I did this with) 6) Wallpix.I learned to take large amounts of stress and plow through the valley (as the bible touches on).3 businesses worked for me: Government Contracting, Landlording, and Note Investing…ALL THREE STILL PAY MORE MONTHLY.I attribute much of the success to the fact that I learned to be a business owner whereby I treated every endeavor like my next meal depended on it.Thinking about it now, I don’t recommend my course for anyone as there was a lot of pressure, soul searching, and lessons learned.On your topic, I think people should consider being more valuable to their employer to elevate their standing at work while building a side business.For me its about maximizing the number of income streams versus replacing one.The key to success (in my little mind) is to focus on building a business out of any venture you take on.I see a lot of failure because folks dabble versus assemble a business plan that they work daily.

One option is the relative buys the property and sells it to you on a contract for deed, another is the relative loans you the 20% down and is a co-signer on the mortgage so the bank lends you the other 80%, another option is you partner on the deal and make arrangements for the relative to get paid back over time, another is your relative buys it and you buy an option to purchase from him, another is that your relative buys it, he sales it to you and takes a second behind the banks mortgage when you get financing for the 80%, you can do a master lease agreement, you can form a an LLC or a corporation and have him buy it and guarantee the loan and you buy the company from him, you can do combinations of all of the aboce. 

I'm guessing since the tenant profile are completely different (corporate/businesses vs regular residents) can one assume it's a lower risk in general?

We produce video content for corporations around southern WI, as well as a handful of national clients like YWCA and Case Construction.

She's been trained on fair housing stuff specific to your state (and has continuing education requirements), has a broker she can go to if she needs help, and probably corporate council as well if the other aforementioned resources don't cut it.