If you have already purchased the property it would involve the preparation of a deed to transformer the ownership of the property into the LLC.

Prepare to be interviewed as well. 

While it can be said it is based on intent, the IRS has no way of knowing your intent and so will look at facts and circumstances to build a case on intent.Harrison prepared a great list of facts and situations that the IRS and courts look to.It is quite possible that flipping one house could make someone a dealer.

Also you should be prepared for them to trash you in their circle, making you out to be either crazy or a bad landlord.

So, be prepared to spend some money on the courses..

Unless the investor in a flip is prepared to add substantial value by fixing up a property, don’t participate in a flip.

The return was prepared by a CPA, and I followed all his suggestions...

I'd say be polite, follow the guidelines to a "T" & be prepared - make it easy for the assessors! 

@Jean Paul Rousseau C-corps cost more to prepare, but it does seem high to me.

A real estate investor, who we funded loans for in the past, confided in me that he was preparing to do a new property acquisition using a friend’s private funds.