His paperwork is the best.

I have always read that if you are flipping real estate, you should do it in a S Corp and hold rentals in a LLC.The part where I am getting confused is LLC is already providing some liability protection and you can elect to be taxed as an S Corp and have to deal with less paperwork than forming an LLC.

It will be more of a headache, from a paperwork standpoint and you will be taking on debt in your own name.

If everything goes well we feel out another separate Agreement For Purchase & Sale of Real Estate , and the buyer leaves a non-refundable earnest deposit.8)I give both contracts to the closing company and they set a closing date. 9)The closing company prepares a HUD-1 and a assignment contract between me and my rehabber/investor.10) Sign all paper work and get paidIs this right?

The excuses to myself at the time for not doing more due diligence/paperwork were: I know the contractor and trust him based on his established reputation with an investment group I (still) belong to.

You need to be around or maybe you can esign documents but what if you need some paperwork that is back at your home, the loan would go nowhere. 

Meaning you can't evict someone for running an illegal business if your paper work wasn't right from the beginning.

You don't have to form a JV with a company, you can JV with just about anyone as long as the paper work and legal documents are clear on who's responsible for what.

You know how that goes; On the speed of the individual providing the paper work. 

If you want to learn more, My wife is RE Agent/Broker and has extensive experience in the process/paperwork.