Color can have a profound impact on mood and emotion—it’s a powerful, transformative design tool.

If you want cash flow to you, an S Corp is preferred, but in the case of real estate I really don’t understand why you would transform passive income to active income.On the other hand if you want to use the fringe benefit of c Corp, or get a w2 for loan purposes or create a solo 401k the C Corp has some advantages.Last regarding your comment about having an LLC veil pierced because of a mortgage, that is only one of multiple factors that will be put forward in a lawsuit.

Value is going to be added by completely transforming this property into a house any young professional would love to live in.

Maybe try to find other areas that went through a similar transformation that your area is going through now and see what kind of effects it had in terms of appreciation. 

Having grown up in Riverside, I've seen the transformation first hand.

You should try connecting with David Ounanian  and/or Julie Thorngren, both with Transform St Louis.

The company planned to transform it into "the country's first energy-independent, cannabis-friendly hospitality destination."

I love the idea of a messed up property making the transformation and while I know I am not ready to manage anything of that sort, it doesn't stop me from wanting to watch it done somewhere else. 

Check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

Than it would be your responsibility to run underground conduit from the main panel to the the current panel, transforming it into a sub panel.