Usually those apartments get rented in days and homes under contract in a week or less is what it seems like...as long as they are priced right. 

Actually, making an S Corp will only make it worse since you change some passive into active income.If anything, your rentals seem to be doing well. 

Seems like you have no limit on options, this is really a strategy choice.

This does not seem like an unreasonable price for getting 1 apartment deal under your belt.

No broker fees vs. going under contract below FMV to induce the assignment seems like a wash, no? 

The numbers work, but it seems the issue was me as a borrower.

There seems to be a lot of speculation in the post and the answers provided can only be speculative in nature given the information.

Relying on perpetual home appreciation seems like a risky plan

It seems like such a owner occupied neighborhood.

4) No underlayment for the flooring in the kitchen, and the thin floor tile needs to be trashed and the whole thing re-doneThe only thing this contractor seemed to be experienced at is framing, drywall and painting.