Let alone another 5 for treatment and then possibly kilz all the studs.

You will need to set up an S Corp to have similar tax treatment as an LLC.

@Robert Campbell, As @J Scott, and @Nathan Click said very well, if your intent when you purchased that property was primarily to resell it then the property in essence becomes inventory and not eligible for 1031 treatment.  

The tax treatment on each is quite different and going into this without a plan cas cost you a bundle if you haven't thought about it in advance.

If you always send pay or quit letters and always send on the same schedule (whether on the 2nd or later) you are protecting your business from charges of unfair treatment later on.

Otherwise, your giving special treatment, which can get you in trouble down the line.

As you know, the kind treatment of people commands respect, whereas one who would try and make someone look like a fool on here just to get their point across does not.

Noise complaints, parking issues, claims by some of paying lower rents just to get under the skin of someone they don't like or claims of special treatment or petty complaints about neighbors.

I do know that Taco Bell was looking at some property near us, but they did not want to build in front of a sewage treatment plant for obvious reasons.

They get special treatment when they go into the bank.