Creating an LLC taxed as an S-corporation for each property would be quite costly(depending on how many flips you do in a year).A) If the property is in CA or if CA deems you do be doing business in CA - CA will charge a minimum tax of $800B) You would need to pay a fee to register and dissolve each CA LLCC) you would need to pay a fee to your accountant to elect the entity to be taxed as an S-corp.D) you would need to pay $500+ for each S-corp tax return to your accountantWith that said it depends on what your exposure is for liability purposes to see if it is worth it to have multiple LLC's.If you have 5 fix and flip projects going on at once and a contractor sues you for whatever reason - are all 5 fix and flips exposed?

Or in an LLC elected to be taxed as an s corp?

The LLC does afford you some level of protection and depending  on how the LLC is taxed (as a partnership or a Sub S election) there may be some advantages that way as well?

I am also founder and president of a startup company by the name of SolarLeaves Energy, LLC, a solar energy company, which I plan to make the top solar installer in New York within the next five years, and one of the top installers in the country in ten years.Like many of you, I do not enjoy working a nine-to-five job.

I hired a GC to dig that drainage ditch, and called it a day.Do not fall for the witchcraft of the hoe-industrial complex that President Eisenhower warned us about!

Most of the investors I incorporated would do something similar to this:Setup DE or NV C- Corp, file the S election with the IRS (no way to file an S corp directly with the state (any state) since the S-election is just a different way of filing taxes and nothing to do with the State.Then, they would set up an LLC (typically in the name of the street the property was located on) in the state that the property was located in, listing the S corp as the member or manager.  

With an Election coming?

I am Vice President of PIN, on my third year in the role.

: Or a Good Hard Look at Wall Street by Fred Schwed Jr.Was required reading when I had to take a financial elective.

The problem is that even a well managed HOA can change overnight when one member who is doing a lot leaves, or a new member with an agenda is elected.