Also, it is advised to form an LLC in the state you are in, but then why does everyone prefer to incorporate in Delaware? 

I've researched and could not find anythingif decided in the future on managing other people's properties, how would getting a licensed broker be incorporate into the existing LLC A?

I did incorporate the water and electricity (the seller mentioned that the renters paid for their own), with the PITI eating up that much of the income (as you'd mentioned), the utilities would just push the whole thing over the edge.Thanks again for the quick reply and the second set of eyes.

They will lead you down the right path as far as creating an entity and what type to form and what should be in your articles of incorporation. 

I highly recommend getting that done in the form of a subcontract agreement - short form or master depending on the dollar value of the contract.You need to incorporate a schedule of values breaking down the contract sum into tasks, and with an accurate cost assigned to each task.

., replacing linoleum or shag carpet with ceramic or laminated wood when it goes out of style.LL profit is what's left after taking out the obvious expenses and not-so-obvious expenses. 

Hello everyone,I am looking for some opinions regarding incorporating.

No, with truly self-directed Solo 401k plan you can contribute first $18,500 (plus $6,000 catch up if you are over 50 years of age) up to 100% of your self-employment compensation, then on top of that you can do additional 20% of your net SE income (25% if you are incorporated) for combined maximum of $55,000 ($61,000 for those over 50).

How old is the home- are you incorporating longer term rehabs- like roof, plumbing, windows, electrical and Heating/ & AC?  

Do not incorporate or form an LLC until you have a business worth protecting.