Sorry you have the cart before the horse Austin, see your lawyer before talking to sellers And talk to @John JacksonKnow the pitfalls in TxThey are legal but penalties are brutal

Then again our retired neurosurgeon friend (an avid equestrian) gave up on REI & now makes all her money traveling the world & then importing horse sperm for breeding !!! 

Cart before the horse and all that.  

I'd like to add in a note or two...Before the passing of the TCJA, Justin's statements were pretty widely accepted - generally speaking, S Corps were the way to go for active businesses like flipping and wholesaling to help mitigate SE tax.Now, with the new tax law in effect, the Section 199A 20% QBI deduction throws a wrench into the plans.There are already a few great threads about the Section 199A deduction on the forums, so I won't beat a dead horse on that but I will say that it certainly should make everyone rethink their entity structure.If you fall below the income threshold for the QBI deduction ($157,500 for single filers; $315k for married filing jointly), it might be more beneficial to forego the S Corp.

From what I have read, if I don't have an exit strategy, I need to hold my horses.

So No need to beat that dead horse....

One of the things you will find out when you start investing in properties, the difficulty if getting financing for an investment property in an llc, most all banks require them to be in your personal name in order to lend on them.My advise, do a deal or five, see if you can, or if you like it before wasting unnecessary money, then once you have money to protect set up the llc or corporation to protect it.Don't get the cart before the horse.

@Chad Clinton Wow, I'm sorry for the hard lessons, but congrats on getting back on the horse!  

To quote an old adage:"A nod is as good as a wink - to a blind horse."

IMO you're putting the cart in front of the horse.