I went to a sem\inar this weekend that suggested that yu set up an LLC for passive income (rentals, flipping properies, etc…) and an S-Corp for Active income (ie Property management).
I.E Rentals:
You purchase the property and after 90 days deed it over to your LLC. Your renters pay your property management company (S Corp) and your Property Management companies pays your LLC.
I am not an attorney, however I have several entities in which I work. From one for private lending, a few for buy/hold of properties and another for Wholesaling/Flipping.
I attended a presentation about a year ago at which Donna Fox, an attorney, spoke. She gave a very informative and detailed presentation about utilizing multiple entities to keep the tax advantages and liablity positives off all forms while all but eliminating the negatives of each entity.
I also started a investment company just wondering about setting up a LLC and where would i go to have that started also getting business credit or grants,loans
This is an excellent book on the subject you are interested in; I believe it is only about $12.00 bucks on Amazon. When I was stateside, I remember I was very happy with what I learned and the way the book was presented.