Rehaan - Your question is dependent on several factors, all of which are very important to consider when selecting a property you wish to flip. 

I complemented it looking for more documents at the IRS site with Lance’s words and it was extremely helpful.Indeed, a multimember LLC can select how to be taxed sending a form to the IRS and, If taxed as a partnership or corporation, not be subject to FIRPTA because it is not a flow through entity (for this tax withholding purpose ) anymore.Anyway, I want to have a meeting with a real estate experienced CPA in the DFW area in order to clarify any details and establish an LLC with everything covered.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

@Britney DearEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Right now, you're basically trying to select a college for your future child before the child is even conceived.

As far as advertising with BP or any other place, I think that as long as you are open and honest with people about your experience the customer will make the decision to select you or not.

It’s a hurdle, undoubtedly.Palm Beach’s real estate market isn’t merely about transactions; it’s about narratives—narratives of hope, perseverance, and the steadfast belief that paradise isn’t just a destination; it’s a mindset.As you navigate the twists and turns of Palm Beach’s real estate landscape, remember this: the Palm Beach dream isn’t exclusive to a select few; it’s accessible to anyone bold enough to seize it.

Underwriting items for DSCR loans include appraisal, credit report, liquidity verification, borrowing entity documents, landlord insurance verification, and whereapplicable lease, verification of rent and security deposit receipt, and property management agreement.DSCR lenders should never ask you for tax returns, W-2 income, pay stubs, or company financial statements.A good DSCR lender can fund your DSCR loan in under 30 days.Pro Number 2: Loan StructureDSCR loans are generally structured as thirty year term, fixed rate and fully amortizing, with LTV up to 80%.To increase cash flow and boost DSCR to qualify for a higher LTV, you can even structure with a five or ten year interest-only period where principal payments are made over the remaining portion of the 30 year term.Most DSCR lenders can fund your loan with DSCR as low as 1.0, though 1.1 is where you will find the best terms.A few DSCR lenders specialize in no and low seasoning cash out refi for rental property investors who use the BRRR strategy.Compare this to traditional banks which generally offer lower LTV, shorter term, higher DSCR requirement, and 6 months of seasoning.Pro Number 3: ReliabilityDSCR loans are a growing component of the multi trillion dollar institutional credit market.While DSCR loan origination volume is growing fast, it struggles to satisfy the demand from institutional investors such as insurance companies, pension funds and credit funds that buy DSCR loans.For this reason, as long as DSCR loan program guidelines for subject property and borrower are met, there is a very high probability that your loan will be fundedwithout delay.Compare this to banks which may subject you to months of underwriting before ultimately rejecting your loan application for reasons unrelated to your application.Con Number 1: Strict GuidelinesThe largest and healthiest part of the DSCR loan industry is 1 to 4 unit residential investment properties in non rural markets where the As Is value and the purchase price is one hundred thousand dollars or higher, and the guarantor's credit score is 680 or higher.If an element of your transaction does not fall within program guidelines, your loan will either be declined or require an exception which can cause delay.DSCR loan program guidelines are constantly evolving to adapt to the demands of borrowers and institutional investors, and to respond to market and risk.A good DSCR lender will knowledgeably and transparently communicate program guidelines, proactively communicate to identify potential issues, and set expectations in a clear and thoughtful manner.Con Number 2: ShenanigansThe DSCR loan industry is fast growing and loosely regulated, attracting loan brokers, private lenders and salesmen who are not knowledgable about program guidelines, not expert in structuring your loan to meet your specific goals, not capable of closing your loan in a timely manner, and not truthful or transparent about loan terms.Con Number 3: Higher interest ratesGiven the demand for DSCR loans from institutional credit investors, the credit spread or risk premium has decreased, making DSCR loan interest rates from the most competitive DSCR lenders nearly the same as bank loans and conventional investment property loans.We should include an asterisk on this con because it is not always true and may not be true in the future.

Are there any markets you have selected yet? 

Cash-flow only happens in select neighborhoods and it's just hard to bounce around (confidently) to find deals.