Posted by tk on March 22, 2002 at 12:43:07:
i replied to a post higher up the list. i suggest you both read it.
i can see why you might use an S corp since it’s a pass through entity, but unless your personal income tax bracket is 15%, then do a C corp for flips. always use an LLC to hold properties or a limited partnership, LP, with you as a person being the limited partner and the C corp as the general partner.
you both could maybe use some additional reading up on corp structure. a weekend course is also probably the best $500 you’ve spent.
this is just my opinion. best of luck.