Right now what I'm looking for is buyers/mentors.I'm not trying to build a buyer's list per se, more specifically I'm hoping to find a few very active investors in my area (NW Tarrant Co) for whom I can try and find the right kind of deals. 

It can be done in SE DC and PG county but it seems like your buyer will just think you're trying to cut corners, even if it's more expensive to restore something vs. replacing it.Once you find that market where a true resortation is desired then you just run it like a normal rehab deal plugging in your costs for renovation.  

Mostly SE states.

On the other hand if someone's only source of income was flipping the same two houses the facts would lean towards a business subject to the SE tax. 

It's also per se defamation, which means they don't have the burden to prove harm. 

You still have to pay the SE tax of "owning" the LLC correct?

I also invest in the SE WI area. 

@James Syed A 9 months rehab to sale cycle is quite a long time for $10,000; especially if the $10,000 is before both capital gains (15% or more) and SE tax (15%) which may average another 30% of the $10,000 profit.

You can pay kids two ways: - 1099s (The income will be subject to FICA tax 15.3%)- W-2 - Might avoid SE tax (FICA TAX). 

It's very thin, but it's T&G hardwood, not laminate or engineered.For my personal residence, I am building a timber frame home in SE Indiana on a 15 acre mini-farm.