I anticipate everyone will give you a different answer and its quite possible they all will be right. 

When you're ready, here are some good DO's and DON'Ts when getting bids:DOWrite out a detailed scope of work that outlines exactly what you want to do.Clearly define what (if any) materials you will buy and what the GC will supply.Get multiple competing bids.Check GC references, call past clients of theirs and possibly even ask to see their work.Closely analyze each bid and ask a lot of questions on things that are not spelled out.Ask each bidder for an anticipated schedule for the work to be completed.Ask each bidder about their desired payment terms.Sign a contract/written agreement with the successful bidder.DON'TWaste people's time if you're not serious about hiring them.Walk the job with competing bidders at the same time.Assume that all GC's will see the work happening the same way.Pay large sums of money in advance unless it's justified.  

My CPA is aware of the situation, so I'm not worried about my day-to-day tax liabilities there, and *selling* is...not something I anticipate doing.

Other than the downtown area building up, where do you anticipate the next direction of growth?

I, personally, anticipate a 25% +/- 10% stake since I have a full plate in Columbus/Onslow/Martin counties.

Take an anticipated figure, use 360 months for the time frame (30 years) and look at the balance due at the end of 15.

I would probably refinance at the end of the 10 year period, unless there is more growth than I an anticipating. 

This house had none, and I originally anticipated adding it.

It took longer that anticipated, but on the positive side I was able to cash flow the repairs and build up my reserves.

That way he doesn't have to pad his bid in case materials cost more than he anticipates.