Just beginning to do some house flips with a family member. Should we set up an LLC for the properties?
Have you Googled this at all? There are at least 1000 forums and blogs discussing this topic. And that's just on BiggerPockets alone.
@Allan Smith nope was just asking the question. Sorry you were bothered by it.
@Ben McFarland if you are partnering with someone, especially a family member, then it's a good idea to formalize the partnership with an entity such as an LLC or LLP.
But you will also find quite a few articles and posts that actually recommend S-Corp status for flips. I recommend doing some research in this.
@Chris Coleman thank you! I will definitely research it some more. Wanted to start getting opinions so I knew where to start.