Rental Property Investor · Fayetteville, NC · Member since 2018 · 56 posts · 13 votes
I've been a landlord by default for more than a decade. I am going through the process to start a business flipping properties to generate additional income to support my long-term goal of providing quality affordable rental properties.
I would like some feedback on which entity "LLC or S-Corporation" is best to use when flipping properties. What are the pros and cons?
Buffalo, NY · Member since 2014 · 371 posts · 146 votes
7y
You can use LLC or S-Corp - the key is to be "taxed as an S-Corp"; an LLC can elect to be taxed as an S-Corp - This is the easiest way because LLCs have less legal requirements.