If you're flipping you still want to consider an S-corp for other reasons.

On a different note: To consider an LLC as a beneficiary, it would be best to use Private (anonymous ownership) LLCs: "The most popular states for anonymous LLC's are Delaware, Wyoming, and New Mexico.

I've found that as long as the schools aren't red/below 4s or 5s, good renters will still consider an area.

If you are going to OO the property, consider an FHA mortgage, where the gift is smaller, and doesn't need seasoning.

Consider an email only approach with an auto responder.

I only consider an application complete if they have completed the application form, paid the fee and provided any documentation that I need.

Now, Dodd-Frank (DF) and the IRS; DF may not consider an option as an installment sale, following those requirements, but the IRS is different because of changes in accounting requirements.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

You make money even if the property value declines.By all means, consider an exchange, but reconsider what you exchange into.

Maybe you should consider an LLC and tax it as an S-corp.