@John CheaIf you are completely green to evaluating and purchasing real estate, I would definitely find someone with knowledge and experience whom you trust to assist/coach you with evaluating and potentially negotiating this deal.This person could be another, experienced investor, a contractor, a real estate agent, or a combination of different folks providing those skill sets.An experienced investor will be able to assist you in analysing the numbers and determining if the property really is a deal worth pursuing  - separate the facts from the vendors rosy words and claims to sell the property.If you bring in a contractor to walk the property, you should plan to remunerate them for their time (unless you have a long standing relationship and they know there will be work for them).   

Brandon, if it were me I would keep the rentals separate from the other entities because rental income/expense is treated differently for tax purposes (schedule E).The other businesses are all "earned income" type of businesses so in theory for tax purposes could be combined, but I would keep construction as its own entity because it's really its own kind of business with its own kind of risks.I would probably put the property management under the real estate brokerage, both for the sake of simplicity and also the fact that if you want to manage properties for others (which might technically include you due to entity structure) you need a real estate license in RI anyway.

I would like to do a combination of buy and hold, and flipping in the long run

Renovated and combined 3 small offices into one large office What was the outcome?

The combination of the two programs has saved us a rediculous amount of time.  

I'd revisit that assumption if you have not priced out PM in your market.Maintenance and reserves - These are highly debated items on BP, especially reserves; so, I am not going to go deep here but I would suggest that $720/unit combined for maintenance and cap ex is too low.  

This translates to the owner being motivated to offload the property for various personal reasons OR the house needing work (or a combination of both).

If the zoning allows a duplex (which I doubt it does), you could just combine the lots.

As long as they are painted over and encapsulated with modern paint, you should be fine.  

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