There is an on-site laundry area and completely enclosed sitting and patio area within the fully fenced lot.8% vacancy rate in this zipcode.Surrounding rentals are around $400 for a one bedroom unit.I would appreciate some feedback on this deal.

To get a capital gains treatment you have to hold that stock for over a year, else you are taxed at ordinary rates.

At that time, they would be taxed at ordinary income rates (not long-term capital gains rates). 

Ended up doing foundation, plumbing, ceramic tile on basement, patio with cement which costed like 12,000 but I don’t think that cost is for material only and it has been 5 months already, when it should only take like 1 month tops!

We could rent the same house and floor plan for $2200.00 a month and would not have to update the kitchen, back patio, bathroom etc... 

All of your ordinary income (as opposed to rental income) in an LLC is subject to self-employment taxes, so if you are flipping through an LLC you are ensuring that you will be paying self-employment taxes on everything whether or not you distribute the money out of the business. 

NP could stand for some thing like “no patio” or just about anything.

Take calls on my patio while overlooking the bay. 

On visiting the property, the patio is closed with walls and windows.

If your S Corp profit was $30k after payroll and your wages were $5k, you will be paying income tax at your ordinary rates on $35k (even if you only took $20k of distributions out of the S Corp).The difference between wages and profit is self-employment tax.