You can usually make money in rental homes in just about any decent-sized city in the Southeast: Birmingham, Alabama; Little Rock, Arkansas; Jackson, Mississippi; Atlanta, I could go on.

However after all the work thats required which includes landscape, parking lot, fencing lighting and interior/exterior work, it looks like the presumed cost of remodeling it will be double that, although Im not positive (still taking bids).Ive priced a comparable property in our area which has similar square footage and lot size and they seem to be going between $700-800k, and so my question is: based on a higher than expected construction cost which is necessary to finish our project, one which will exceed the amount of money of what a similar property goes for in our neighbrhood, should I continue with this project, or an alternative plan would be to simply beautify it for approximately 100-150k and ditch the plans, and flip it instead for approximately 700-800k now that its zoned commercial.My fear is that if I do invest the moneys to finish the project over the budget I initially priced it for, and the business doesnt take off, I would initially lose money on this investment.Thank you for taking the time reading this.

But in the case you have already funded the 401k and you are benefitting from either defered tax in the case of 'regular' 401k or you benefit from no taxes on the income and legal dispersement of the Roth portion of your 401k.   

[This would apply to the member manager of the LLC]Under the exception, an individual would not be treated as holding an interest in a limited partnership as a limited partner for his tax year if he also holds an interest in the partnership that is not an interest in a limited partnership as a limited partner, such as a state-law general partnership interest, at all times during the entity's tax year ending with or within his tax year (or the portion of the entity's tax year during which he directly or indirectly owns the interest).

Can I somehow swap only MY portion of the LLC to an S-corp that I solely own, or do all 3 partners now have to be S-corps?

For instance, if a property worth $10 million brings in $100,000 per door, the cap rate is $100,000 divided by $10 million.To quickly size up a deal, I rely on the 1% rule: if the price is $100,000 per door, I expect to see at least $1,000 in monthly rent.

I've done the same as a seller, they screwed up and I terminated the deal, they tried to force the matter and they failed to give adequate consideration for the size and scope of the transaction contemplated and lost.

Sellers motivation shouldn't factor in what you can afford, thats a bonus if they will negotiate, but your numbers have to make sense to you and work out for multiple exit strategies (str, ltr, sell etc)Running the purchase numbers is pretty straightforward, use almost any online mortgage calculator, make sure you know taxes and insurance (taxes will go up a bit if it is currently owner occupied and you don't plan to live in it) Once you know your mortgage amount then start looking at other STR's in the same area and same size/amenities and see what they are getting per night and how many nights a month they are rented to calculate what you MAY be able to get.

We have a mid size university and hospital here.  

West Deptford is a good-sized town.