We have elected to be taxed as an S-Corp.Just curious if this is reasonable or not.

The reason I wanted to move to 3-family is it is close to my work place, close to beach, and of course, if I can have rental income from the other 2-unit that would be great.

@Glenn Curry, hard money is a great way to get into BRRRRing your first property for a number of reasons. 1.

You want this for several reasons

I'm pretty sure that even though the documents says it ends in 2012, by continuing to accept payments, both parties have (by their actions) agreed to an extension...with no end....or......For some reason, the agreement stated the Option to Buy happened AFTER 5 years, with no apparent time limit. 

I think this might be a better choice that doing metal bars on the windows for the most basic reason it looks better.

Everyone's walking around just looking for a reason to play victim.

Without getting too many more details that is probably one of the reasons why.

But to say "I want to own rental property" but then give every reason in the book as to why you DONT want to own rental property isn't helpful. 

@Brandon Motuk one reason there is no one resource for this information is the rules vary so much from state to state.