This is part of why I chose a lower LTV was to keep positive cash flow while still enabling me to pull out 19k to keep as reserves for the property which has proven especially important with the onset of the COVID-19 pandemic.Doing this project from out of state presented a lot of challenges for me and I relied heavily on the contractors and my PM to provide me with updates, pictures, lots of phone conversations, and a great deal of learning for how to navigate a long-distance rehab.

Technology advancements such as email, phone calls, skype has enabled communication with a remote CPA to be seamless.

Technology advancements such as email, phone calls, skype has enabled communication with a remote CPA to be seamless.

The sellers are a retired couple that will use the home sale to supplement their pastor's retirement.

My CPA said the way to do this is to form a C-corp that is registered in the state of OH, get a 21% tax on profits, then only have the CA qualified LLC send/receive money to the C-corp via low interest loans.I am looking for the best entity structure to enable me to do the flips protected and having best tax benefits without having to pay CA twice.Thanks,Paul

I talked cash flow specifically because cash flow enables quitting jobs, qualifying for Fannie Mae backed mortgages and such.  

I'm currently interested in getting started in buy & hold real estate investing to supplement my retirement in 5 years. 

I would supplement @Russ Seiler's endorsement with a word of caution and a recommendation that you review any "creative tactics" gleaned with a tax accountant and/or attorney before putting them into play.There are still a number of "Rent to Own" providers in Canada who are operating in a manner that is "grey" and out of step with CRA publishings.  

I am hoping that my joining the Biggerpockets community will enable me to create the marketing and investing network I will need for my business to succeed. 

I am a Columbus based musician looking to supplement my inconsistent income with some cash flowing rental properties.