Moving property from S-Corp to LLC
Are there any costs associated with assigning a property from an S-Corp that I own to an LLC that I own?
Ultimately, I want to build a rental portfolio that creates long-term wealth, but I think I am going to start by flipping and wholesaling. Once my business is great and finding deals and rehabbing, I will start keeping some of the best deals as rentals.
My question is, what is the best way to move properties from one entity to? I've heard that S-Corps are best for businesses like wholesaling/flipping and LLCs are best for rental businesses. So can I have an S-Corp responsible for:
1. Finding deals (direct marketing mostly)
2. Getting properties under contract
3. Wholesaling or flipping those deals
Then can I have an LLC (or multiple) that the best rental deals get transferred to after the S-Corp gets the contract?
