Hey BPJust thought I'd post to see how many private equity / investors are active in Georgia, specifically those interested in high-return corporate housing, hospitality and senior care (skilled care & assisted living).

I have called my local bank that I've been doing business with for years and they informed me, they can not finance Single Family Residences owned by corporations. 

There must be five or six now.Part of the strategy on claiming CCA will depend on how you hold the property (i.e. directly in your name or via a corporation) and your planned length of hold.When you hold property in your own name, the CCA recapture upon disposition can hurdle you into another, sometimes substantially, higher tax bracket {BTW:  The recapture has an inclusion rate, in your income, of 100%; it is not taxed at 100% ;-) }.  

Not an ideal location for Corporate opportunity....most people who do work corporate jobs commute to the city (Grand Rapids) and this significantly affects how property in Muskegon rents (interest, length of stay, type of renter, etc...)

One of the first things you should do is to form some kind of a corporation or LLC to protect yourself personally.  

Basically I work for a company at corporate headquarters, which I consider my "home town", but I get sent out for extended assignments ranging from a few months up to a year.

Should I sell the Corporation or just the note and close it down? 

It is also great that your wife is into real estate investing.Y'all ought to form some sort of corporation or an LLC after you get some professional help from a CPA and\or an Attorney.  

She's at an outpatient mega corporation, but she just started a year ago, so she may not know what it was like before. 

If you do a flip, use an S-corp or llc to purchase it.