Stairs are additional.

Also, had a wholesaler tell me when I first started that he would buy a home and sell it to just make an additional 5-7k on it.

The Qualified Intermediary must acquire and hold ("park") legal title to one of your properties during the Reverse 1031 Exchange transaction. 

.-  Basement is unfinished but has some existing plumbing, garages, finished walls,  etc. and I conservatively estimate $30,000 to build out each of 2 additional  units

In addition, it could be that the seller has died.  

I'm looking to make connections in my local market in addition to learning as much as possible from the BP community.

Additionally, he was very clear he didn't deal with third parties and would not wire money to attorneys or closing agents and certainly not before receiving the fee.

I do not know how much we will make or how often we will be able to acquire and rehab houses, so I am not sure if we should just take the profits as regular income or set up the LLC as an S-Corp.

I may have additional questions.

Hey Jared,We are looking to acquire the apartments for our third investment fund, so we are now starting the search.Regards,AT