Any suggestions?

In this case, you'll split a profit of about $39k or 9.6% of the ARV.Either way, I strongly suggest you learn how to evaluate a flip, including all expenses (which the BP spreadsheet misses), not overpay, and not try to borrow every last dime.

Generally speaking, you aren't going to reduce your tax liability just by going to an LLC from a sole proprietorship, but I would suggest you speak with a CPA that focuses in real estate so you can best plan your entity structure.Let me know if you have any other questions.

@Cee Jay Instead of looking for when "a crash in the markets" will happen, I suggest your time will be better spent just ... looking.  

Before you jump in, I suggest that you join a couple of local networking groups that strictly focus on multifamily to get a sense of what is happening in the multifamily market. 

Any other suggestions that can keep everyone happy and on the right side of the law?

I would definitely suggest that you keep learning here on BP but also visit the local reia group here in GA. 

You can have your agent watch it to see if it changes back to active, but I suggest your move on to the next one.

Does anyone have any suggestions for PM that I can use?

Because of this, many PMs and the Realtors Association suggest charging move-in fees and foregoing the security deposit.