Posted by Glenn OH on February 01, 2000 at 14:01:46:
I’m not sure at this point that I can be much more help. I would suggest going to the library to look for a book about forming your own LLC or Corp, where they will explain the differences better than I can. elated to using your current S-corp, one thing to watch for is that liabilities from one business not wipe out assets from another. You may need to have a number of LLC’s or Corp’s to handle multiple properties. You could also bring in investment money this way (possibly with a LP with corp as General Partner, and investors as Limited Partners). Just some thoughts.