you "may" be able to avoid "some" tax if you go the corp route by paying yourself a salary. doing 1 or 2 flips a year would probably not constitute a salary though. if you have a day job, and do 1 flip a year, you still gotta pay the federal, state, and BOTH sides of the SE tax.for me, that came to around 44%. but I want to pay taxes. means I meant $.put it to you this way - at your day job, you're probably paying around 37% in taxes. you just don't notice it as much as it comes out of your paycheck each week.

If you can avoid this entirely, why not?

You will learn and earn, and avoid the pitfalls cited earlier in this reply post.

I'd second @Justin Kane on networking (and avoiding expensive programs).

I want to avoid California, and states where real estate is super expensive, and states that have laws that aren't conducive to this kind of business. 

But, since you asked, you might be able to do it and avoid the self-dealing rules as long as  the paper trail is there. 

The son would like to sell his share of the property to me at a discounted price to avoid future headaches dealing with the ex-husband.

There's no silver 'bomb shelter' to protect us, so avoid the obvious risks and do the best you can.

can take 30-40 minutes to help you on skype.Then, if you decide to keep or sell them, suggest you work with a mentor or a coach, at least for few deals...finally, did you consult attorney for a land trust to avoid prop 13? 

The other side of Rt 40 is Hillcrest and that is a tough neighborhood I'd advise avoiding.