There are lots of threads on this topic and the best advice is to talk to a tax professional about your specific situation...That said, doing flips out of an s-corp (or LLC taxed as an s-corp) will allow you to save some on self-employment taxes, as you can take part of your profit as a dividend, which isn't subject to FICA.As far as buying rentals or commercial property to offset your gains, that may be a possibility depending on your personal situation...but it's hard to generalize...

One of the best inspirations on business cards I got was from the movie "American Psycho" when Christian Bale is comparing his cards against his friends/competitors.

Any use of the LLC name prior to filing is not covered under the state corporate entity.Further, the operating agreement is the most important document with the LLC.

I would argue those people maybe shouldn't have bought and maybe they would not have even qualified for a fixed so the "choice" was moot.I shudder to think of the billions (maybe trillions) that Americans have spent in interest on their fixed mortgages over the past 30 years because they felt like fixed was what they were supposed to do.

I think I would have to file a Foreign Corporation, which would only add to the paperwork and don't know the tax ramifications.Admittedly these questions are more suitable for a RE attorney or CPA, but before I start paying billable hours, I want to get smarter on the topic in general so I know which questions to ask and have a hierarchy of choices in mind.

These were real players (alot of them were listed as corporations on the deeds) who are in the business of flipping buying houses.So when they call I collect cell phone numbers, email addresses, what type of houses they like and what price range so I have all the right info when I come across a deal.And they do call...usually 2 - 3 days after I mail out the letter.This is going to cost you time and the price of the gas to get to the county court house.

Any title agent or attorney should be able to point out concerns when looking at your title report.As the owner of the loan, prior to trustee sale, you are entitle to all of the unpaid principal balance plus all the interest arrears plus all of the advances on the loan both T&I and Corporate.

When I was 25, the resolution trust corporation (RTC) was auctioning off saving and loan debacle properties.

I don't think having multiple entities doing deals will get you passed that....I'm guessing that in the general description of the statute it will define "person" and it generally includes an individual, corporation, entities, etc.

I did that so I could live where I wanted to live and how, not what some corporation demanded of me daily.