Once all the work was done we rented the home for a couple years and then sold.

I misspell myself, :-) but the statutes to concern yourself with are12 United States Code USC Section 1715Z-19and theConsumer Protection ACTand a couple of others if you are interested.  

I've seen this same reply from you in a couple other posts.

It also requires different reporting of that separate interest expense on the K-1 each year so the partners know they have the obligation of tracing that interest expense to however the partner used the distributed proceeds.I typed all this up and realized Mr Brooks has left the building and posted this 6 months ago, but hopefully someone else will find this useful!

I also hold a couple of real estate forums in the area for people like yourselves to connect with service providers, GC's, etc. 

I had looked into Pricelabes a couple years ago and didn't think it worked well for my market, but sometimes think about retrying it because so many seem to rely on it.

I’m in Ohio, so I can purchase a property with $40k cash out, invest $10k in repairs, and rent for a couple hundred above the monthly operating costs.

Send me a PM and I'll send you a couple of examples of what is on the market outside of Atlanta so you can run your numbers and see if that fits.

We helped him with a Couple ground up New construction Rentals and He Can use The two property's as new construction experience but not us, this is what had me perplexed.  

Spent a couple years as an LO.