Agent Commissions, rental income& flips - help with structure?
All of my income is real estate related. I make real estate commissions, I have a couple rental properties, and am about to embark on my next endeavor, a flip. I'm also looking to purchase a duplex or possibly 4plex.
Right now, both rentals are just in my personal name, with no loans on them. My real estate commissions are 1099'd to me from my brokerage.
I have an S corp that I've done absolutely nothing with other than file the correct paperwork.
So my question is this - should I quit claim the rentals into the S corp? Should I put them in their own llc?
I'm completing a mini flip right now - bought a house for 18,500, selling it for 33,500, which will leave me 15k capital to be taxed on capital gains. I don't have the time to do a 1031, as I may need the cash for a personal purchase. Should I just suck it up? Or is there a way I can avoid that? I'm so overwhelmed. Help!