Could you elaborate a bit more on your first sentence?

Before talking about taxes, we need to figure out how your deal is structured, and that is an actual conversation, not a few sentences on a forum.

I fixed your sentence. 

I’m not even sure what we are discussing anymore LOL You just made me laugh with your last sentence. 

BTW, Grammarly thinks your sentence should read, "It just seems like it when you read it."

No you do not want to be 'in the trenches on reno'...You say in the very next sentence that you have no experience with distressed properties.

@Dan Nguyen There's a handful of options available to you regarding different LLC structures but based on your last sentence, the answer is simple - LLCs have no impact (positive or negative) on your income tax situation.

The last sentence of my 5 year plan would read something like that.One of the most important arms of the company to get going, IMHO, is the flipping arm. 

Then, you have to convince a judge you didnt find anything.The problem with most laws is the last sentence, which usually says, "or up to the discretion of the court". 

I like your first sentence a lot - great perspective