But your tax return you will select an “S” Corp designation.One of the dangers of paying yourself, is you could be challenged that all of the revenue is Subject to Self Employment tax, thus double taxes.  

With something this large it could be dangerous to make a purchase without all of the moving parts visible.Are you working with a local commercial broker?

FWIW, in my eastern NC market, the contract exercise time period in this market seems to be about 2x what it was six months ago, up to the 36-month territory.

@Millon BlackshearThis is a dangerous deal if you do not already have a lender network.

Like, if someone called me up and asked where they should invest in my area, I'd tell them all the good places, the bad places, the dangerous places, the rich places, everything.

I don't believe anyone is saying for anyone to be in a dangerous situation where a tenant is allowed to physically threaten you harm you.

It is not a good idea to chase rent and it is not a good idea to show up at the unit asking for rent, showing up for late rent can be dangerous.

But for the most part...that starts becoming dangerous territory.Why are you asking?

Even though we are overall safer than most all other populated states....Here are the 10 most dangerous cities in Maine for 2020:AugustaSkowheganBiddefordBangorAuburnHoultonRumfordPortlandSanfordWatervilleHere are the 10 safest cities to live in Maine for 2020:SabattusCape ElizabethCumberlandEliotGorhamYarmouthHampdenKennebunkGardinerOaklandSource. www.homesnacks.net/cit...

I know that sounds like a lot but you do not want to risk every dollar you have right now on this one thing - very dangerous.