Small businesses mostly on a cash basis, keep it simple.On a balance sheet, it's usually pretty simple for small ventures, but if they had "contingent liabilities" noted, that was a plus in view of their recognition of such business exposures.

Who really knows, but keep in mind that your "personal exposures", such as your vehicles, home, etc...

The real deal is that EVERY house in the south has latent mold in it....half the allergies in atlanta are the result of exposure to mold.

It’s still on the table, just thinking about how best to set things up so I don’t increase my legal exposure and I save money.You mentioned being in a similar boat, follow up with me in a few months I’ll let you know where I’m at! 

Limit your exposure and spend more time figuring out ways to increase revenue or lower expenses.

Long term though, if you are going to continue doing this, you want to work with a CPA who can assist you in an entity structure that will minimize your exposure to Self Employment Tax as a result of being a flipper.

You can see that I have limited exposure here, but I notice the old threads as well and actually laugh most of the time when I see those.I agree with Darryl in that a lot of the posts are ones that are promoting product, and am sure that the individuals posting are somehow tied into the OP.

Since your pops owns rental property and you have had some exposure already you should be fine. 

Furthermore, there are other ways to gain exposure to Real Estate publicly traded REITS and homebuilders are 2 such ways; one can find companies that have regional exposure to parts of the country or even abroad that appeal to them.I know of investors who have done quit well in other markets and I know people who got hustled by turnkey providers.

If they lower the minimum investment amount and put a 10% or 5% maximum leverage requirement amount on loans funded, they will help investors minimize exposure and reduce the "eggs in one basket" fear that some my have...