LLC / S-corp?
I have been told and always thought it’s better to keep long term properties in LLC and so short term prop/ buy-sell/ flips in S-corp. But the 2 activities should be done under separate entities. But the s-corp is such a hassle (tax withholding, filing. payroll etc). How feasible/ different would it be to convert the S-corp to an LLC and continue the buy-sell. The long term properties are in a different LLC
You should talk to your CPA about this. There are a lot of potential issues with a conversion (potential built in gains tax) and you need to talk with someone who is very familar with your facts and goals.
Ditto what finniganps says... Or you can start a new LLC with a different charter (spelled out in the operating agreement)... keeping properties where they are... in any case, make sure your professional tax adviser is in the loop.
Tell your closing attorney what you are trying to do. There should be no extra costs other than minimal deed filings, depending on your state. I have done this several times in NC.