If a state's real estate commission knew this was going on, I'd bet the broker would be a star in the Disciplinary Action pages of the monthly REC newsletter.

This included: full demo and rebuild of kitchens, demo/rebuild of bathrooms except tubs, replacing sheet rock on ceilings from water damage, new flooring or refinishing flooring dependent upon the condition of existing floors, light fixtures, plumbing, correctly installed GFI outlets into bathrooms and kitchens, painted the interior of all units and replaced all interior doors. 

There are some states where the taxation on an LLC incents people to wait as long as possible to form, but Texas franchise taxes on an LLC producing no or minimal income would be <$300/year.Also, check out the site Lone Star Land Law.http://www.lonestarlandlaw.com/They have excellent free information on various entities, asset protection - from basic to seriously advanced - and it is all from an REI perspective. 

@Mark Ainley rocks... though I miss his face :(

All the cop cars hit the breaks in the front of my place and jump out on the call from Gladys.Dang, it's Smokey Robinson with stars on a his cop uniform asking me what the issue is.

Our next big rock for flippers is going to be interest rates.. and lack of product in certain markets..

She rocks.  

I have two  4 BR rental houses in Round Rock which rent for considerably more. 

Worrying is like a rocking chair, it gives you something to do but it never gets you anywhere."

So, after I bought my first property, I felt like an all star, had a plan for the next & casually put it out that I am looking for partners.