Also those rates I quoted have jumped since the election.

As a shareholder of the company I also got disbursements which are taxed at a lower rate than my salary...My understanding is that doing flips and new construction it is best to be under an LLC (and I believe that you can be an LLC and elect to be taxed as an S Corp).Sounds like its time for you to add a CPA to your team.

you are doing great sorry guys I meant wholesalers 

If you can make it, the KnoxREIA meeting on election night will be all about the numbers it take to win in real estate. 

No, I meant to put I am not wholesaling either...guess I should have specified.

It was a slow start for me, but I saw what Lonnie Scruggs meant by my 6th deal.

@Russell Welbourn, you have the THEORY worked out fairly well (except where you wrote: "Typically using all your own cash, at time of refinancing if your arv is 70-75% of your acquisition price plus rehab costs you would get all your initial investment back", you meant to write: "Typically using all your own cash, at time of refinancing if your acquisition price plus rehab cost is 70-75% of its ARV, you would get all your initial investment back"). 

I meant the town south.

Meant to respond to a suit brought in the personal name of a person who owns the llc, trust, etc. in you case, it includes your other holding entities.That being said, it is still good practice to add all entities involved in you asset protection structure on the policy.  

@Sherri Li You could elect the LLC to be taxed as an s-corp so that you would file an 1120s corporate form instead of being classified as a partnership.