I have toyed with renaming my LLC to Immobiliare. 

Definitely seek the advice of an accountant or toy around with a more advanced version of turbotax to get better numbers.

Same story here with Allstate on two different occasions for the same issue, hail and wind damage (shingles were laying on the ground) they offered both times to fix a little to y section that was less than my deductible so I passed.

When I bought this place though, the kids who lived here had drawn on the walls with crayons, spilled nail polish on the hardwood floors, and dropped small toys down the tub drain.  

If you're really reading this site a lot you are probably not financing anything that goes down in value, like a car or toys.

Keep your loans and business in order and they will never stop throwing money at you and you might even get a call from someone like me about a chance to buy a note that is in trouble with another property that could end up as yours if they default further.While you can go get a simple line of credit on a single family house through the consumer side of the bank and use that to buy a bass boat or any other toy you want without worry while the tenant repays the loan; if you do something like that on the commercial side.....you will be in the dog house quick to say the least.

All of the numbers point to yes, I should do this (even if I develop the land and sell it to a competitor I'd triple my initial investment) I just need some reassurance! 

He's just toying with you to drag this out and try to make an escape.As Deanna said, you should never, never, never accept a personal check in this situation.

I would want to see a minimum of 3 months of reserves at what they currently spend every month (nights out, toy payments, etc) and 6 months of their nut (mandatory payments)

I've been toying with the idea of starting to wholesale and was wandering if there are different markets which work best for wholesaling?