When a C-Corp elects to change it's status to an S-Corp and carries with it accumulated earnings and profit (retained earnings), then the S-Corp cannot generate more than 25% of it's gross receipts from passive income as long as those retained earnings remain in the company.

You can elect to deduct a certain amount of depreciable property every year.

They say the only ship not meant to sail is a partnership.  

It was an enjoyable position but I realized pretty quickly that I was not meant to be an engineer.

Albert,I think you meant 1st month, last month plus deposit.

Matthew B. oh sry meant yes in Clermont and the person i spoke with was from the city of clermont.

When you say "instantly appreciate", it sounds like you meant to say "instant equity".

oops, meant $2000/mo not $200

@Brandon Clark What I meant by building 20-25% equity is to allow you to refinance with a conventional loan and not have to put any down payment into it.  

@Ron Daugherty***Edited - I read the cost at $67sq (including basement)Relooked - yes his #'s seem low by a few K's on Electical and HVAC.