Frustrated to know that 50% of my income is going to taxes, I'm thinking how can I grow my business and create more jobs when 50% of profits are taxed?

My goal is to have a nice place to life for a while that we will fix up and maybe sell for a profit 5 in a few years due to equity created in rehab.

Large Multifamily can easily afford a property management company without eating too much into the profit.  

Either other investors have "ins" and can get work done much cheaper than I believe it costs (based on what I was paying in CT) or they are ok making very little profit.

When we sell, some of the profits will end up paying those loans off.

On the side, I'm working on an OPM owner finance deal on 10 acres my in-laws have and want to sell us (mentioned on another thread), so we are exploring land use options to get it to pay for itself for several years before the area grows and we can build something profitable or subdivide and sell.

If the owner finds out you wholesaled it and made a quick profit, and he tried to sue you, you want him coming after your LLC and not your personal assets. 

Also, obtain copies of the current lease agreements, as you will need to honor them until they expire, unless you are able to negotiate a mutual agreement with the tenants to transition over to your rental agreement sooner.

@Ali QudsiUnless you are some not-for-profit organization - you will be required to pay property taxes.There are some instances that you buy a newly developed land/building and the county strikes a deal with you that you won't have to pay property taxes for X years but will ultimately have to pay them once the period is over.You can decrease your taxable income related to rental properties with depreciation.

ProsRisk DiversificationPotential to find better opportunitiesMore property available to choose fromConsFewer economy of scale benefitsStretched to thin due to more things to keep track ofAdditional risk due to higher overheadRisk of needing to rely on a new set of individuals (Sometimes the Devil you know is better than the one you don't)Potential to end up with less profitable opportunities