I did my first flip without a LLC. Basically, as a proof of concept. It worked out really well and I am getting ready for the second one. I am looking for a good tax strategy and legal protection. I heard that if my wife became a real estate professional and had significant deductions, I could use this deduction against my pension and social security taxes paid to the feds.
@Mark Harrison i have a CPA that set up my LLC and handles my book keeping I can refer you inbox me for his info