What makes this attractive to me is the quick pay off and high rent ratio along with the long term "potential" of a waterfront lot for a rebuild. 

Are you attracted to it because you want to be self employed?

The house is in a good area that attracts a lot of people.

In October 2003 the Gail Borden Public Library moved into a new $30 million, 139,980 square foot, 460,000 volume-capacity building.

I'm watching one of the podcasts that interested me, and I wonder - what attracted you to the specific niche that you are pursuing? 

An investor that owned 100 rental houses say in the Bay Area would be controlling well over 50 million dollars worth of RE in our market it would be 20 to 30 million.... in the mid west rust belt is could be 2 to 5 million..

There a million and one different ways to make money in real estate.

. : )I have  a commercial property right now I am looking at with 1 million upside.

I would suggest you look at crowdfunding opportunities...I can't seem to understand the attraction to the crowd funding platform.

We typically work on 2 million dollar deals and up, but I would think asset protection is one of your reasons for putting the asset in an LLC.Mark