There is no freedom per se in real estate .. not owning rentals not owning a real estate brokerage not being a mortgage broker not being a home builder not being a syndicator.. etc etc.. all it is trading one JOB for another.. and for those that have never been self employeed I can see how that not having to answer to a company or boss is FREEDOM to them.. 

Sales are slowing and prices are flat in several more expensive areas around SE Michigan now.

Being a "REP" doesn't trigger S/E tax.

They can handle renters policies and deal with properties all over the SE coast.

Hi @Brandon French , welcome to BP.This site is full of great info and people and there is a fairly large group of investors from SE Michigan on here.

I'm not against it per se, but it does increase risk.

I didn't see your expected timeline (at $44/day interest) or ARV, so extra hard to estimate profits.Be sure to reduce your ARV 10% for realtors and closing costs and after-inspection concessions.Be sure to account for your silent tax partners- 1) Uncle Sam federal taxes & FICA SE taxes,  and 2) Your state dept of rev taxes, if any. 

I may do a 1031 exchange but the capital gains rates are low right now and I can most likely make money with some of the cash and use some for some capital improvement projects as I am mainly mortgage free at this point.The income that is not subject to SE taxes might be subject to SE taxes via payroll requirement if you run this transaction in your S-corp.

Majority of South Philly-Newbold (19146/45), Point Breeze (19146/45), Wharton/ Dickinson Narrows (19147/48)Brewerytown (19121)True Temple - 11th to 19th, Cecil B Moore to Diamond, most investors may be stuck on Broad-18th(19121/19122) West Oak Lane Closer to Cheltenham Ave (19126)Port Richmond SE of Aramingo, SW of Allegheny Ave (19134)East Kenzo (19125)/Old Kenzo (1923)/Norris Square (19123/33)W Mt.

as opposed to a "gift" per se.