Your questions have their basis in C-Corp taxation, which functions the exact opposite of an S-Corp in almost every significant way.The main difference is that a C-Corp pays taxes on its profits, whether they are distributed or not.  

It looks a little more polished, but I know Quest is functional which is what is important.

It seems to be a function of type of neighborhood (A,B,C or D), CapEx schedule, macro trends, and other things I do not yet know! 

Is there a dining room that could be turned into a bedroom without disrupting the functionality of the house?  

The unit is currently in deplorable condition, including 40-plus-year-old windows and a non-functioning furnace.

I was thinking I'd be getting a place closer to her house in Oklahoma, just to keep everything in one area (I have uncles there who could deal with the management), as well as not really wanting to deal with a constant rotation of renters here on island, but nothing is really out of the question as I learn more about the process I'm sure.

on our lease, we have a section that tenant has to initial that smoke detectors are there and functioning. 

@Bill Gulley  I would argue that my BS meter was on and functioning well when this strategy came across my desk!

@Paul Kessenich- in Nashville, the target market for these larger home is bachelor/bachelorette parties and other larger social functions (reunions, weddings)That is another degree of risk for long term.

I also look forward to offering any advice or feedback in areas of home renovation, design and function, where I am knowledgable.