But I'm curious what fellow BP'ers in SE WI think.

Another LLC member might be your S-Corp through which you run your income subject to self employment tax allowing you to do a salary / dividend split and minimize your SE taxes.Again, this is not legal advice, and I'm not the legal expert, but I can turn you on to one.David J Dachtera"Success is not a destination.

I am also from Houston and work on the SE side.

I am a buy and hold investor with 50 units in SE Mass and have done some rehab-holds as well.  

Hi all,I own a triplex in SE Portland and am planning on turning the 2000+ square foot basement into 2 2bd/1ba apartments. 

LLC for TN:http://sos.tn.gov/business-services/limited-liabil...EIN: https://www.irs.gov/businesses/small-businesses-se...

But my motivation isn't really quitting my job per se, but more to free up my time to focus on my property without taking a pay cut.

SE inner loop (where most my stuff is now). 3rd ward.

The flipping LLC would elect to be taxed as an S-corp - this is done to reduce the portion of self-employment taxes paid because flipping is not considered a passive activity and you are responsible for paying SE taxes.

Realistically I’d say it doesn’t even have a cap rate of it’s own per se currently.