This could free up more cash flow to reinvest in your deals.But here’s where it gets interesting: making the transition to an S-Corp can require a more organized financial structure, which includes separating your accounts, keeping clean records, and being prepared to pay yourself a reasonable salary as the business owner.

We are a team of five employees, and our work involves renting land for a number of years, designing and developing buildings, and managing them—including renting and maintenance.It’s an exciting yet challenging new chapter in my professional journey, and I’m eager to learn and grow alongside all of you.One of my key goals is to modernize our company’s workflow, which is currently reliant on traditional pen-and-paper methods. 

My name is Michael Perry and I am brand new to real estate investing.

I have a title report from my lawyer, but it is somewhat confusing as the land has been subdivided (it started as 9 acres and is now 1.5) and has quite a few transactions - including to the county (I.e allowing the county to build a road).

If we were to find a duplex/triplex/fourplex that met our criteria, I was thinking about maybe owner occupying one of the units in exchange for being able to use the 203k loan - for not only cheaper financing but 3.5% down + being able to include fixup costs in the mortgage.

I agree with everything @Michael Baum said.Many people, including myself, have used a 10% down second home loan to buy a property used for a STR.

Your net income includes equity from debt pay-down.

Based on the above is my understanding correct and the 45 day identification period and 180 replacement property purchase period (which includes the 45 days) both extended?

The LLC is a pass through entity and will show up on your personal Schedule E and once the property shows up on the LLC, the debt (that probably won't show on your personal credit report) will be included in your total debt. 

Everything should be done in hosue, including owning the property, renovations, and management!