We didn't do every building all at once but over time converted one building then another. 

Can we set up a time so we can talk?

@Josh Otero some ideas:1) Key ALL the locks on each SFR to one key, including garage.- We used to buy locks at Home Depot and just swap handsets, but now use a locksmith for same cost.2) Get rid of handset locks (use passage knobs) and only use deadbolts.- Two locks on a door really don't provide any additional security.- Cheaper as only have to rekey/replace deadbolts.- Tenants can't lock keys in their home.3) Our locksmith created a Master Key system with 10 key option.- One master key opens every door- We go 3 levels under our master, so we can submaster 2-4 unit houses and apartment buildings- Don't need a costly and difficult to secure & track keybox.

I'll also add that guidelines change over time. just because they don't like it now doesnt mean they wont decide later to be okay with it.  

Never go with just one or the first estimate. 

I fired the PM and hired a much better one, which has been a breath of fresh air.

This is my first and last GC job and I'm stuck on one thing.

Every time you lower your tax bracket you are lowering the value of the deductions.

I don't know if he is really sick but I don't want to question that and at the same time I don't want to be taken advantage of.   

However, if actively working in the business, the IRS requires taking a reasonable salary (W-2) before taking distributions.Since this is your first project, it’s a good time to discuss with your CPA whether an S-corp is the best structure for future flips, or if a different entity type (like an LLC taxed as an S-corp) might be more beneficial.This post does not create a CPA-Client relationship.