Should I do what’s easier for me now (one operating account per VR) or do what’s best longterm (presumably one operating account for all properties or a group of properties, ie by state)?

And not just for one property but presumably I need to be doing this for several properties simultaneously in case someone else scoops it up in the meantime or my offer is rejected. 

Would just the profits of your investment let you buy something that would cash flow as well as the current property(presumably something cheaper)?  

These aren't full title searches, but presumably one of those was done when you purchased.  

I presume you are lending the money to acquire the property in which case you would have the title company draft a collateral mortgage and a promissory note which could also cover the rehab funds if you are loaning that also.  

If your C-Corp has income and you want to use it personally you will either have to give yourself a wage, or take it as a dividend and be subject to double taxation...Tell you CPA that people are questioning your use of a C-Corp, it doesn't seem to be the most tax efficient way to invest in real estate because of double taxation or excess self-employment taxes in trying to avoid double taxation.I presume your goal is to make money in real estate - by operating under a pass-through entity (receiving a K-1), this income should increase your financing ability as an individual. 

@Greg H.I presume you mean days when you said "28 minimum rental".

If you go to your Grants Coordinator at the City of Birmingham (presuming that is where you are seeking to do biz), they can probably give you a list of properties which are run down, vacant, running up City Code violations, etc.  

I don't presume to understand all of the mechanics behind a crash like that, its just hard to believe that weathering a crash would be that easy.  

Our assumption going in is that the bank is generally fine with this, so long as the creditworthiness of the LLC owner (presumably the original buyer) has not materially changed.