Once in awhile I will work on the projects myself and for awhile I employed 2 people to cut the costs of subs, however after operating that way for about a year I found it was wiser to cut the two employees loose and operate with subs exclusively.

Too add on.. egress code is very specific for what can actually be counted as an egress.

There are plenty of nuances when it comes to taxes for real estate investors (hence why we have this forum), so it's really impossible to give specific answers without knowing your situation and your numbers.  

There has to be a reason they aren't common around me though but maybe it is area specific.

I asked this in another forum (in an admittedly long and rambling post), and did not get an answer to this specific question.

@Rick Golden get the specifics on the numbers, figure in PM, capex, vacancy, repair, etc and if the numbers work for you then do it.

I became a Notary Public specifically to sign loans.

I note that you asked specifically about “cash-flows”, which has multiple components each treated differently for tax purposes.In general, you can start with NOI, next you have debt service and cap ex, which can get you to cash-flows.The interest portion of your debt service is tax deductible (possible subject to limitations) and the principal portion is not because you get basis in the asset for the loan principal, which generates a depreciation deduction.Similarly, cap ex is generally not deductible currently but the expenditure is capitalized and depreciated, similar to the initial basis in the asset.In summary, you have cash and non-cash tax items that cause your taxable income to differ from your cash-flows and taxable income * tax rate determines your tax liability.

Many of the programs available are city/state specific so check with a local lender. 

We tend to be investor specific with St Joe.