Wondering if it's is more tax advantageous to use an S-Corp or a straight LLC for doing my flipping in?

DSCR also does not look at your income i.e. taxes, W-2, paystubs, etc but rather will look at the potential cashflow of the property. 

We live in Los Angeles, both are self employed 1099 independent contractors, combined annual income roughly 250k pre-tax.

If you got the permits and they are recorded with the county tax assessor, you can list them on the MLS, Zillow, etc as a five-bed with ADU! 

Since beginning I have done one creative finance deal using sub to, one attempted fix and flip, me and my partner own two airbnbs and I have bought and sold many tax properties.

You could still get the tax deductions...rents will likely go up, interest rates will likely stay flat or decrease slightly, Austin has a great outlook long-term. 

.- Our combined after-tax income is $170k annually.- We have no outstanding mortgage debt.Recently, we discussed financing options with a banker at PNC and learned that we might qualify for a HELOC up to $480k, albeit with a relatively high minimum interest rate of 9.31%.

You then, have to Homestead it in Florida for the Property Tax reduction.

Insurance falls under that umbrella - as would something like a tax lien that isn’t cleared up relatively quickly.

However, due to short seasons, and more mild winters, I'm struggling to think even 3-4 years from now that I'd pull anything more than $50K a year in rentals.Bills / property taxes are about $12,000 a year.The thing is, being single, and not really dying to work in this area (small town), I'm feeling rather stuck, as is all the equity.I'm currently not working, but very much want to move back to Chicago, a place I love, and start buying cash flowing properties.I'd suspect I would have about $900,000+ after all is done if it sold at $950K, considering the vast array of other things I've accumulated (wood splitters, machinery, tools, MCM furniture, rugs,).