Now the thing is fix and flipping is usually a strategy where you acquire a property and renovate it as quick as possible to avoid any holding exposure.

The whole purpose of LLCs is to limit personal liability, and limit exposure of real assets to 3rd parties.

The last two that an attorney handled for me cost about $1,000 each to handle, not bad.In several cases we've had people deed the ppty back to us when we convinced them that their legal and debt exposure would be less that way.

That way, you reduce/eliminate that exposure.

This minimizes my exposure while giving me a chance to learn the ropes.

Howdy folks,I know many of you expressed interest last time on  getting exposure to the real deal.

Local market is very strong now but could be nearing the end of cyclical boom so there would be downside exposure but if I ended up having to carrying one or both homes for a couple years that wouldn't be outrageous.

The only way to make real money would be to hold a bunch of these to achieve a certain volume which means a lot of exposure to that high risk market. 

The rabies shots following such an exposure is standard procedure with a high risk animal such as bats.Bats are a common species for rabies.

@Will DoughertyWe're all over the map here....Selling to kids at less than fair market value (FMV) = gift tax exposure and possible gift tax filing obligations.