@Steve BabiakAbsolutely great screening practices! 

Also, make sure a lawyer (not a CPA) actually sets up your LLC (a CPA cannot create an operating agreement or they'd be practicing law without a license).

Even more frustrating waiting for those who have an appointment and don't show (along with the above that do show "dentally challenged" and then frightened to death when I hand them an (gasp!)

http://www.remodeling.hw.net/products/windows/practical-guidelines-to-combat-window-condensation

So, in practice, you're saying fix-and-flip properties are best titled and run through an S-corp (my flips- at least initially- will be purchased with cash) and long-term rental holds with less equity and rental income would be held in an LLC.

(Strikingly similair scenario to someone in another state telling someone what the regulations are that govern the profession they practice full-time in that state are, no?) 

Why is this practice so prevalent?

@Bill GulleyI wasn't anticipating, nor even expecting, you to advise on how this might play in Canada (that's why I tapped @Claude Boiron), but was hoping you might add some depth an clarity to Frank Chin's initial reply above (as typically practiced in the U.S.A.).It's intriguing, but the more I have dug into the idea, I'm still not convinced it's something I could pitch to a property owner easily.  

And with houses only 1000-1200 sf, they practically build themselves. 

David Zheng I think it comes down to if you have a "practice" or a "business".