Posted by Tony-VA on March 22, 2000 at 18:36:54:
Spend some time reviewing some of the responses from Bill Bronchick here at this site. Click on the “Legal Corner” in the upper left corner.
Look into separating properties you flip (these will be treated by the IRS as dealer properties) from the properties you hold (passive income).
Bronchick’s material is very good and can help you set up and understand these entities. You may also want to look into utilizing Land Trusts as well. All this and more can be found here and at his own site.