Cate Mee If as the other poster said, lots of development being done in SA, and with your site being free and by Riverwalk, seems like a good story.You need to run a proforma.

The house has natural gas lines running to the gas furnace, the kitchen and the laundry room. 

It might not make sense to do a 1031 exchange.In PA, state income tax will be due on the gain even if you do a 1031 exchange.You will have to pay a qualified intermediary (QI) to handle the 1031 exchange; that might run in the ballpark of $1000 or so.If you already held for a year, you are now into long term capital gains tax rate rather than short term.

I keep a running log of all properties that I get financials on in Berwyn, where I invest, so that I can know what expenses should look like on properties when underwriting. 

I would only say dont buy for appreciation because at some point our 5 year run up in prices will stop.

I know the traditional advice would always be to start a business if you have a high likelihood of running it successfully. 

After the loan is paid off you only have $6,500 remaining ($82,500 - $76,000 = $6,500) to account for your cash invested.Given that you already have a decent interest rate (4.88%) I would not run the risk of a higher rate with the Refinance.This appears to be a good cash flowing deal.  

I would run the LLC and we would need to determine ownership %s

You will have a hard time remotely running 15 spaces  with the expectation of  a third part manager.  

I plan on keeping the property for the long run.