So I make sure I get the right people involved who can.

His ex-wife was the former registered agent and is now out of the picture and no longer involved in the property except on old documents. 

However, it's crucial to thoroughly evaluate all costs involved, including land expenses, construction costs, and potential challenges with financing.

David, rental income is passive income.Placing your rentals into an S-Corp usually doesn’t make sense from tax standpoint because you will be exposing all of the income to SE tax.If you have a portfolio of rental properties that you do manage yourself - you could set up a property management company and charge PM fees, this income will now be considered “earned” and eligible to contribute to a retirement account.

The accounting records are a joke. 

Account Closed where are you looking?

Savings accounts and treasury bonds are paying decent interest rates right now, so if OP needs a year to save up more he actually has options for the first time in years. 

I would the adjust my offer to account for the repair.

Just a quick question for the forum's sake... do lenders take into account specific job titles/responsibilities when decision making?

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.