Are you planning on running this company continuously, or just forming it for the purposes of acquiring a specific asset? 

., but I tend to be conservative in my estimates, so I am sticking w/ $1,550 for purposes of this analysis.

Actively purchasing real properties for the express purpose of rehabbing/improving and flipping is a completely different animal.  

I had a brief adventure with yellow letters for the purpose of wholesaling with a brother-in-law in early 2014; I learned a lot doing that, but ultimately we weren't fully committed and it fizzled out after sending out two waves of letters and talking to only a handful of people.

We'd plan on upping that to $425 (which, for the purposes of the above analysis would result in cash flow of $1121.47 per month) which is just under market rent for the area.Essentially, my question boils down to...

For bare block you will want to use a block filler versus an all purpose primer.  

However, a corporation cannot be established for the mere purpose of lending money in excess of the 6% limit.

Genna-its for rental purposes.

(not 100% sure of the nuances of a short sale)If the sellers are in need of a short sale, they don't have the strongest negotiating position...I might ask for more time for the stated purpose, or you might have to withdraw....If they push back perhaps offer more consideration ie: maybe you put more earnest money into the pot to show how serious you are or maybe pay for an option?

Not what I wanted, but they obviously needed help to understand how to deal with vendors, and I needed to play defense.Obviously doesn't scale for investment purposes.