It's predominantly a drive to market with outdoor activities as the main draw.  1. 

Second, its generally not advisable to put a rental into a S Corp.Honestly, I'd assume that dissolving the entity would amount to taking the equity out as an owner's draw, the reverse of doing a contribution. 

Our biggest draw is more so the appreciation you can get.

Contractor pricing on a 203k is generally a bit higher compared to a non-203k project because the contractor has to do extra work, there's more paperwork involved, gets no $$$ upfront, has to basically finance the project and every draw payment is max 90% of their payment request (10% holdback).

Would have a partner and would draw half of my DP from a low interest HELOC.

Yes, your lawyer can draw this up for you. 

So, it only makes sense to make the election if you are making a good deal of active profit (please don’t tell me you have passive income...) where you are saving th 15.3% is worth the extra expense.I’ve never heard of a magic ratio or anything about a distribution / owners draw (regular LLC’s do that).Talk to some qualified professionals.

The bank will provide the funds to purchase the building at closing and construction funds in draws as the project is complete.

Indiana little bit of weather but really low tax's as well.. those pesky tax rates are something to really watch.Now for appreciation which I personally think is an important component to this whole strategy Certain areas of Texas will have a lot of draw on that card.. or MF were tax rates are already backed into the rates of returns.Just sayin.. 

The draw of the city seems to be over.Clean, SAFE & quiet, & we continue to get great long term tenants.