I know that some will caution a newbie about getting into a heavy rehab project on their first one, but if your family is in the contractor biz, then you have a distinct advantage over other rookies.

Local investors place offers a lot and since they know the market and here they have a distinct advantage over an out of state investor.

Also its the investor flavor of the last few years.  

It has a distinct smell around that area sometimes other then that it is your typical community with good and bad areas.

These all have distinct tax advantages and disadvantages.I would suggest doing some research on the comparative differences between the corporate forms to get a general idea of the merits of each as well as the potential problems.

As they began to develop the company and carve their niche in the big world of real estate, they quickly realized that there was a distinct need for certain real estate services they originally did not foresee.

The initial lender or noteholder is paid off by the lender who is refinancing the loan and the net difference to the borrower usually is any array of revision to loan terms (rate, term etc.).Sometimes the borrower voluntarily refinances a loan because there are favorable terms they could benefit from and sometimes the borrower refinances because they have to... such as when you have to get out of a hardmoney loan post rahab or if you have some flavor of an ARM or balloon loan that matures or becomes due.

When dealing with personal living spaces, distinction between residential and commercial arises from a definition by {I believe} HUD in the U.S.A. and CMHC in Canada that classifies 1-4 family properties as residential (attached or detached).  

Everyone  has a different flavor of real estate they enjoy.Property management is a volume business.I would rather syndicate and be a managing sponsor for my time than watch over a bunch of properties for PM work.If anyone calls me for PM work for commercial my answer is NO.I buy stuff myself, syndicate, and then work with clients directly for commercial.

There is a distinct opportunity here in Bartow and Mulberry and Lake Wales.