If i understand you correctly you are speaking of what is known as a "Double Closing".

I stand corrected.

For example, your LLC can be taxed as a S corp or even as nonexistent (no tax return is filed for it).

This could be corrected if they were able to learn the same cool strategies that you learn by reading books, courses, tapes, online, etc...The problem with this is that most of your family members probably aren't interested in Real Estate investing.

Remember, notes are sold every day in bundles of multiple millions of dollars, they are a standard financial instrument, just like government and corporate notes and bonds.The money comes when you buy a note at a DISCOUNT sufficient enough to earn you an ABOVE MARKET RETURN.

Most are done thru a large corporation real estate company.

Hello, I'd be interested in any advice/opinions people have on forming a corporation (LLC or S) to protect assets.I have 3 rental houses that I've aquired over the last couple of years.

He pointed out that those guys made much less than I did and that if I hired a roofing contractor their employees made less than me.I pointed out that while those guys earned less individually they would have 6-10 of them on the roof which probably added up to what I earned and that I had NEVER seen a "roofer" install a roof correctly.

Ryan has the correct answer here.

It's never too late to take control of your financial well-being; the fact that you realized that Corporate America/Uncle Sam and his cousins (state/local governments) will not be able to provide for your retirement places you at a great advantage over most of the work world.You're in a great market in the Raleigh area.