Amazing goals for such a young age.

Instead of losing 55k they will probably only end up losing $25,000 - $30,000Long term its not a great cash flow property but with some renovations and addition of a parking slab I think long term appreciation is the big goal here.

As others have said, your first step is to define your investing goals. 

My goal here is to get more feedback like this - especially as it relates to my assumptions. 

Our two story more family homes started at 500k and have ended up at 675k to 725k.. with our original nets at 100k ( was the goal) to now we are 100k to 150k NET NET NET on those.. we have 17 more to deliver and 11 are presold at those high numbers and so if I can keep lumber where i need it we should have a very nice last year of the project.

Remember, they can always refer themselves😊Now, make it a goal to call at least 5-10 of these people EVERY day and ask a MAX OF THREE off the list below of who do they know that:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcWhy only three off the list per contact?

It is the marketing channels they are familiar with.  

The best business entity for your fix-and-flip business depends on your goals, risk tolerance, and tax strategy.

Quote from @Ben Fernandez: Gotcha...I like your goals utilizing the lease option.

However, weighing your options and performing due diligence carefully based on your specific circumstances, the property's potential, and your long-term goals.