If I sell stock, I trigger some significant capital gains in stocks i plan to hold longer term so I'd prefer to avoid that.  

I feel and want to pull the trigger when the time comes and I'm really excited. 

Great job and way to pull the trigger!

For the organization that wants to require something more than a simple majority to trigger such a revocation, the answer is a separate agreement among the shareholders that provides that no shareholder will consent to a revocation absent the approval of a designated supermajority.The eligibility requirements for an S Corp (qualifying shareholders, number of shareholders, one class of stock, etc.) are traps that can limit flexibility for an S Corp and result in the loss of the favorable S status for taxation.

Either that or the overflow valve was "dry and cracked" so when the water did get to the overflow valve it went through the cracks in the valve and therefore dripped through to the first floor.     

I would suggest you get very familiar with the area, learn the rental comps and know the neighborhoods extremely well so that when a deal comes on the market you can pull the trigger quickly if necessary.  

I've also read a lot about how you need to pull the trigger on your first deal as soon as you can so you can get in the game and stop procrastinating. 

The price has dropped once already primarily due to some pretty substantial deferred maintenance that the seller doesn't want to deal with (new roof, retaining wall, some dry rot).Looking at COCROI/Cap Rate and other numbers, the place looks to cash flow handsomely already – around 1k/mo with existing tenants at existing rates.

Of all the research I had done in the month’s prior to actually pulling the trigger, I was solely focused on learning as much as possible about flipping.

You also want to learn what a good deal looks like in your target market and analyze 100 deals as quick as possible so that when you're ready to pull the trigger on an investment you can do it with full confidence.