However there is a twist called an improvement exchange where you can exchange into a new piece of real estate that you have made improvements on while the QI is holding the property for you.

Use the $191K and put 20% down payment on a primary residence, put 5k a piece for each rental for reserves, and put reserves aside for our primary as well ?

Good to know Edward, that was the piece I was missing then.

A couple small pieces of advice when selecting contractors I would offer which is used in the commercial world is to always make sure you have (3) bids per job and level their scopes of work to make sure they are ‘apples to apples’.

However, SC is an attorney state and we got our first piece of vacant land under contract.

that doesn't even look like damage from a piece of wood.. more like hail dents..  

As there are costs that are built into the whole solution so your ROI will be less than finding the pieces yourself.

I was planning on purchasing a 400k MF with cash but was planning on getting a line of credit on the piece in order to handle any "expected" surprises. 

It took some time, but I set everything up and executed a very large deal, I sold homes piece by piece and built my reputation as the kid you can trust.

Now... every last one of the people who tried to plant that seed want a piece in one shape or form.