Legal Question in Real Estate Law in Illinois

Insufficient information. We don't have "wholesaling" here. You either buy property, fix it up and then resell it, or you remodel it for somebody and then the two of you resell it and split some kind of profit. Either way, there are laws here regarding implied warranties, mechanic's liens and other things that to be conservative I'd say you want to set up a separate Illinois entity, for both accounting and liability purposes. Now if you're saying the Limited Partnership LLLP is the sole shareholder of the Georgia C corp., it could also be the sole shareholder of an Illinois C corp. I don't understand why you are using a C corp structure, however, since there are two levels of taxation -- partnerships don't qualify as S corp shareholders to allow partnership taxation, unless you anticipate more than 15 shareholders at any given time.....