My first taste of Real Estate was buying a Townhouse in Waikele (Parkglen) in 2011. 

If you only care about an easier/cheaper tax return, then stick with the SMLLC because you can report profit/loss directly on your 1040 via Schedule C and the IRS considers your legal entity a "disregarded entity"; for my tastes, I'd rather incur the overhead of a 1065 tax return for my Multi-Member LLC, and have the LLC issue me a K1 to include in my personal tax return, in exchange for retaining the full scope of the LLC liability protection.I'll register any subsequent entities in Indiana as subsidiaries of the parent, and these will all be "Manager Managed".

Sometimes they don't respond at all, but sometimes I'll get feedback such as "well, your mattress was too soft for my tastes" or "the neighbors two doors down were loud" Normally its nothing that can be helped but I always like to apologize and thank them for feedback....maybe in the future those people will realize the items they are complaining about are out of the hosts control and leave the 5 stars anyways.

While I do not offer list price, I have very unique tastes and am not a "typical" buyer.

I think you have to bounce it against your goals do you want to ... a) be a semi-custom home developer, catering to the tastes, whims, etc. of your clients; or, b) rehab houses on time/budget.I know some other folks nearby do a blend of this where there are limited options for upgrades, changes.

We may have over renovated a little as we let our taste speak for the property, however the new property owners loved every detail about the house and are not changing a thing.  

The house is in a good area, has been tastefully updated, never flooded, has a pool and sits on a corner lot.I thought the house was probably worth $515k, but we initially listed at $499k to capture the "below $500k" searchers.

@Sandra RoddyI got a taste of land development years ago in CA and loved it.

Unfortunately a sports sedan is out my price range for my taste.

Wow, that's the best sentence I've ever seen about the buy and hold business.All the other strategies seem too sketchy for my taste.