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. 

As both an agent and investor in real estate, I can personally and professionally attest the significant role that investment properties can play in developing a portfolio of supplemental income.

But ultimately, I'd like to supplement my salary and escape the rat race.

This enables you to defer the payment of your ordinary income, capital gain, depreciation recapture and/or Medicare Surcharge (“Obamacare”) income tax liabilities.There are important timelines and rules you must follow in order to successfully complete a 1031 Exchange.  

Here are the stats:Current payment and rate: $1,807.23 w/4.75% rate 30 years at 4.25%: Savings of $230 monthly with MI 15 years at 3.5%: $1,868.83 (w/MI)15 years at 3.625%: $1,821.84 (w/MI financed)We can comfortably pay our current mortgage amount as well as the 15 year options, though part of our reason for refinancing is to enable us to eventually move and rent out this property (better cash flow), however now I'm considering is there more benefit in doing a 15 year and building more equity that can later be used to do a cash out refi or HELOC?