What should I keep in mind?

Would you mind elaborate on why you'd only form an out of state LLC when you absolutely have to?

I am active in West Michigan, and have heard that people can have good success going after earned lists in ATL.

Keep in mind that your selection of contractor is your problem, not your lender’s or anyone else’s.

You have to run this way, but you are paying more in taxes over an individual with passive vs active investment.Seeing as most folks who visit here are small, self managing folks, it is important that people are aware of the differences.

I guess the question came to mind after a book Iam reading.

Would love to connect with like minded folks. 

Flipping is active income, not investing, and it is taxed as such. 

@Marshaé Smith Would you mind sharing how you collect interest on the balance owned at their fault?

That is the jist, i would like to add to the responses above that even in the future if you qualify for real estate professional status, those losses cannot offset active income since in the year you generated the losses you were not real estate pro.