Most CPAs advise flippers to use an LLC with the S-election so you can get the benefits and ease of an LLC, but save on self-employment taxes with the S-Corp. 

I am also founder and president of a startup company by the name of SolarLeaves Energy, LLC, a solar energy company, which I plan to make the top solar installer in New York within the next five years, and one of the top installers in the country in ten years.Like many of you, I do not enjoy working a nine-to-five job.

Creating an LLC taxed as an S-corporation for each property would be quite costly(depending on how many flips you do in a year).A) If the property is in CA or if CA deems you do be doing business in CA - CA will charge a minimum tax of $800B) You would need to pay a fee to register and dissolve each CA LLCC) you would need to pay a fee to your accountant to elect the entity to be taxed as an S-corp.D) you would need to pay $500+ for each S-corp tax return to your accountantWith that said it depends on what your exposure is for liability purposes to see if it is worth it to have multiple LLC's.If you have 5 fix and flip projects going on at once and a contractor sues you for whatever reason - are all 5 fix and flips exposed?

Or in an LLC elected to be taxed as an s corp?

I hired a GC to dig that drainage ditch, and called it a day.Do not fall for the witchcraft of the hoe-industrial complex that President Eisenhower warned us about!

The LLC does afford you some level of protection and depending  on how the LLC is taxed (as a partnership or a Sub S election) there may be some advantages that way as well?

I've elected to use a hybrid model -- referrals and some of the conventional as I will be jumping into the scene on a part-time basis. 

Bonus depreciation is an election to take first year 100% deductions of any items in the property that depreciate under 20years, like 'personal property' or land improvements..

I'm curious @Gilbert Dominguez, if you have had properties that have tested positive for radon and if so, have you elected to not buy because of that?

I would suggest going to the REIA - (I was once their president) and get to rub shoulders with some like minded people.