I'm thinking I keep them rented and one day possibly tear down the flood buildings and build up a new building.

I have not I'm still trying to determine if it is possible with what little capital I have.

@Stephanie Younger I am a national development director and have interviewed and screened literally hundreds of contractors for virtually any and all trades that you could possibly imagine.  

Tony Fendi would it be possible to get coffee together sometime?

Income from investment activities, such as rental income from real estate, is not business income, it is classified as investment income (rents and royalties), and therefore sheltering that income via a 401k is not possible.  

I live in the Seven Hills area so I am hoping to pick some brains and possibly meet some seasoned investors around the LV area.

I'm a real estate agent in Birmingham, AL. Does anyone have any advice for someone new joining this site? 

Buying them lunch presents you the opportunity to learn from their past without making the same mistakes yourself.As the hour begins to draw to a close, I make sure the waitress knows the order is all on one check and that it comes to me.I use this strategy to turn lunch into a “lunchinar” as often as possible.

Always do a math analysis and try to look at the prospective property before you make an offer or at least have a clause in the sales contract that will allow you some time (about 15 days) to do a detailed inspection and possibly back out of the deal without a penalty that will hurt you too much.Do not try to do everything yourself.  

Please let me know if I can be of any help to you, I myself am new to RE investing but like you have been addicted to the Education tab on this website trying to absorb as much as possible!