The ceilings are the old popcorn..so I've tried to preserve what's there and get rid of the older stuff and blend in over time...would be ideal to take all down with no tenant.

Any cash that you want to take out is taken as a Dividend, which is then taxed again at the individual level after it has already been taxed at the corporate level.Finally, any sales gains are taxed at regular corporate income rate, not at the much more favorable capital gains rates for individuals.In a subchapter S Corporation, you can preserve the nature of the transactions similarly to in an LLC and keep deductible passive losses and capital gains, however with an S-Corporation, you have an added layer of needing to pay a shareholder a reasonable salary, so you're adding in payroll tax expenses and a layer of complexity.Additionally, I'm not so sure about your statement of a buyer guaranteeing a loan for the corporation but not having it show up on their credit.  

So, with these being vacant and my company is now the recorded lender, how far can I take a preservation service without violating any regulations?

I own 3 properties built between 1890-1920 (as is most of the housing stock in my market) none are registered but two are in historic districts and eligible for HTC for certain repairs and fall under less stringent guidelines…if the one was one block south (in a different district) all of the work done would have to be approved by the State Historic Preservation Office.

Banks frequently have property preservation companies check on houses that are delinquent.

Some of the highlight of the Historic Tax Credits: the building needs to be eligible or listed on the National Register of Historic Places, the project has to be a substantial renovation (meeting 100% of the basis of the building (building only, not land)), the building needs to be income producing and cannot be sold during the 5 year recapture period (without consequence), all work will need to be reviewed by the State Historic Preservation Office and National Park Service and be in accordance with the Secretary of the Interior Standards for Rehabilitation (which can add time), you can often combine state and federal credits.

I looked into a block improvement project in Wilson and got lots of potential partners such as Habitat for humanity, Bk of Am, BB't. and city preservation society.  

If you (or anyone) wants more details, send an email to me.A Comprehensive Wealth Management plan:1) creates and grows wealth2) protects and preserves wealth3) plans for the efficient distribution of your wealth during your lifetime4) plans for the efficient distribution of your wealth after your lifetimeThese steps entail the use of insurance and legal and accounting professionals.

The landlord before buying should have looked at current rent on the lease versus market rent.Generally what happens on these properties is as the tenants say our job is losing income etc. and we need reduced rent then the landlord complies in certain cases.When that happens the landlord starts cutting down on maintenance and repairs to preserve the same margins.Remember everyone has bills whether they are a tenant or a landlord.I am in the opposite situation.I get in to 20 units and there are tenants milking the situation.They will all be gone soon.They say we won't pay rent etc. but when it comes time to call the bluff they cough up the cash.If the events happen as you say then I feel for your situation.Just like bad tenants there are bad landlords where I would never operate my properties that way.If you are paying below market rent don't expect the world.Each year a landlord should raise the rent by 4 percent at least to handle carrying costs.If not your landlord is losing more money money on you for each year they keep the rent below market.I believe with the repairs the landlord would need to show "willful neglect" on not fixing the issues.

What tends to be overlooked is the additional expenses involved in attempting to recover on the investment which will include past due and ongoing taxes, property insurance, property preservation and maintenance if the property is abandoned and servicing fees among some others.Each of those cost categories have a periodic factor to them for the most part.