I currently work in corporate America and will be self managing my properties.Strategy: Buy and hold.Goal: To make real estate my sole source of income in 10 years. 

This will continue to depreciate according to the relinquished property's schedule, which in my case was $3,015 per year (which already backs out the land and incorporates some small post-purchase improvements)Deferred gain = proceeds of sale - exchanged basis = 114,940 - 76,141 = 38,799.  

At what point do you need to incorporate if you are a flipper.  

I took the formal steps of incorporating in Oklahoma through LegalZoom.

Recommended changes to the street and urban design are meant to transform Foster Road from a largely high speed, auto-oriented corridor into a series of interconnected pedestrian-oriented places that are accessible by all transportation modes and support a vibrant mix of businesses and residences.The Foster Road Corridor contains five district nodes: Gateway District, Western Core, Heart of Foster, Green Link, and Crossroads District.Spring 2017 Update: The project has incorporated additional funding from the Fixing Our Streets program to add reconstruction and paving of Foster Road between SE 82nd and 90th Ave.

4) What state is the owning entity (if there is one) incorporated in?

Or is this just one opinion and the fact is most people prefer to hold properties in corporations.

It enables your company to legally pursue growth opportunities across state borders without having to incorporate a new business entity.

Most brokerages incorporate management into the business model becuase if they are managing the assets, typically they have the first shot at the debt placement and/or the asset sale.

Here is an example model to go with my last post from the Goldman guy:Model Goldman Guy SentFor V4 we may be able to borrow some of the functionality from the model and incorporate some of his comments if anyone feels like it will add value.