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Confidence in Your LLC?
Do you feel confident that as a serial house flipper (for those who are) that your LLC is safe from having it's "corporate veil pierced" by a disgruntled house buyer or something? I hear that it isn't convincing to a court if you create an LLC for one flip, and then close it - you were just using that as an extension of yourself, which makes it weak. But if you kept it and used it for numerous flips over time, it would seem to be a legitimate corporation. And especially if you have a second member, and a separate bank account, I imagine it would be strong. Any opinions? Any other good ideas to prevent your corporate veil from being pierced in a lawsuit?