Great place to start is going regularly to the Memphis Investor Group (MIG). 

I also did not regularly inspect the inside of the house because I felt like I would be intruding on her home.

Again, work only with brokers that have demonstrated success in selling land to builders, and do so regularly.

I would consult with an Attorney and a CPA on that, every state has different laws for LLC's. i would think a regular LLC for the buy and holds and an LLC -S for your flips, i do not believe you do not have to or want to go as a C-corp.

Hey @Bryan Wilson I think this is a good discussion, and one that is definitely beneficial to new investors who ask me this question pretty regularly. 

House isn't in terrible shape, but owner hasn't done basic routine maintenance in years either.

I'm a bit of a broken record trying to get some of my investors (and regular buyers) to look at homes with a basement apartment or carriage house.

In my line of work we look for things that will need to be replaced in business or property regularly so I was curious on how you viewed that expense.

I do have to say they probably gave me a much harder time on the inspections than regular GC's would have had.    

Track all of the expenses and income that you are responsible for in some sort of report that you can review regularly with people you trust and try to reduce expenses and increase income.