I do know Dallas wasn't hit nearly as hard as some other parts of the country by the recession, but watching our biggest asset bottom out sure hurt.http://www.dallasnews.com/business/columnists/steve-brown/20140130-dallas-area-homebuyers-to-scramble-this-spring.ece

Corp, Sole Proprietorship with Liability Insurance, etc.)We'd like to hold our investments in entities that give us the most tax benefits and asset protection.

I know, buy and hold long term, holding a performing asset is a form of investing, rather a residual type investing.

The reason we wanted to use separate series is that we own our houses free and clear and wanted to have as much asset protection as possible.

What other steps can I take in order to protect not only my assets, but those of my father as we'll?

It is not a free lunch and if you don't do your part, they will protect themselves - they'll have the asset.

Also, when I approach Asset Managers I don't want to sound like a total newbie so...here I am.

Be sure to have your asset protection strategy set up so you keep and protect the money you make.

Here in Sacramento, it is common for a bank to have ten REO assets listed with six different agents.

Your best chance for flipping in Indiana is flipping rental property which you must manage to show them as a performing asset or flipping through lease option (land contracts here) which you must manage until you get a tenant who qualifies for financing.