However, this notion was struck down in court by the wording “beneficial” interest in mortgage and deed of trust documents.Bottom line there is nothing that a property placed in trust can do that a single member LLC can’t do cheaper, easier, and “cleaner”, in MOST cases.

I like the idea of the 15yr, but I'm not sure if the significant increase in monthly payments is ultimately beneficial.

After a year cont'd, Look for new duplex to move into and repeat the process however using only a % of the intial properties equity for downpayment (the other % goes to a 20% down payment on a non primary residence investment loan) From my understanding, since the initial FHA was refinanced to a conventional loan, I should have no issues getting the second FHA loan(or try 5% down conventional loan if thats more beneficial)

I think we made the right choice on the property however it probably is more of a gut thing than an analysis.

There are some positives though: after looking at the market, I'm pretty convinced that I made a good choice to buy this property if I eventually succeed in fixing this foundation.

This may involve ways to make it mutually beneficial for the builder to prioritize my building over others in the community, otherwise applying pressure on the builder, clever ways to close even before completion (which maybe is the dumbest idea ever? 

The Broker's Duties and Owner's Duties should be written clearly for you to determine what is the best choice for you. 

@Blake Ramsey    I am in SoCal, so the choice for other places was made for me $$$ hahaI took out 50K on a cash out refi to get started.

I wouldn’t say it’s a choice between real estate and truck driving, you should do both, live frugally and pile up your truck driving money into down payments on houses.

@Chelsea Ziss As mentioned, you need a cpa”s advice going forward.But...1) do not put the rentals in the S Corp.2) it Could be beneficial to do your flips, depending on how much you make per year with flips, in the S Corp3) your flip profits are not capital gains, they are ordinary income and just like your commission 1099 income, subject to 15.3% ss/med self employment tax.