S-Corps are generally for active income (think Flip, Real Estate Agrent) andLLCs are generally for passive income (like rentals/STRs

Coin flip.

If you aren't in that club yet, do a few flips and build some bank. 

You want to use flips to partially fund this venture - flips that will drive up housing prices => rents.

Thus it was as not flipped (unless you consider the nominal transfer between predecessor deed holder and current deed holder a flip).

You could also buy a single family property that you can either fix and flip or house hack.

I've closed and dispoed 4 wholesale deals, flipped 7 lots of land, own 30 rentals and have closed around 25 deals as a lender.

I purchased sub2 a handful of times for fix-and-flip types of situations, where I was in and out of the deal in 3 months.  

.- Large remodels or construction projects (Live in Flip) can be self-managed, worked on directly, and the value add, after 2 years, is largely tax free up to certain limits. - Many areas around the country allow for ADU Construction - house-hackers enjoy similar benefits to remodeling projects by being naturally on-site for ADU construction. 

I started my Real Estate Investment Journey in 2016, have flipped four homes since then, and own one rental.