You might want to try and find a good product that you can really get behind, but the training part will be good at nearly all of them.  

At the end of the day, holding in some type of entity is the way to go...it just makes more sense.If you create an LLC, you should be able to specify how long it will last...I put something like 2000 years...just in case :) But the LLC can be useful for lots of things, and your holdings can ebb and flow through them...a good strategy is to buy through a holding company and then hold each property in an LLC...LLC's are great...I use a main one to do things like register trade marks.

I can't entirely envision the end product.

I believe nail on means that stucco is removed and the window is more of a built-in product like you would do with new construction.

We're just using a product that most banks offer.

Both have portfolio products.

So, if the plan is conducting a business such as flipping houses or owning a portion of a business run by others that provides a service or product, then UBIT can apply.

There is no timeframe on that; although most buyers want to buy a finished product.  

If only option was to rent the top as a 3br, numbers are still favorable for the product in my market.

It may also be used by some lenders for other credit product application evaluations (such as credit cards, personal loans, retail credit, student loans, etc.)."