The main items in our renovation are:New water main from curb and valveNew electric service and panelAdd bathroom + convert to full bathLVP in 70% of the houseInterior PaintingAdditional bedrooms in basementKitchenette in basementEgress(x2) in basementOur scope of work should create a great living space for us to grow into, but also provide a rental unit that competes (or even exceeds) the area offerings for medium term rentals.

We've actually attempted to clarify this recently with an update to provide some clarity. 

right now its more looking like a solid 30% down providing 100% of construction upto 65% ARV .

However, it's always best to walk the property with an agent who can give a decent guestimate on the repair cost of the house to see if the list price will work before sending out a GC.If your properties are ideal for flips and they are actually priced to sell, they will likely go under contract before you can coordinate all of that so you need to be on your game at all times.If you're working with an agent, they should be able to provide you with a rolodex of inspectors, lenders, and GCs they work with to take the burden off yourself. 

Are aware of any software solutions/service provider for managing C-corp operations like payroll processing, book keeping etc ?

She is an expert here in South Florida and will be able to provide you with sound advice.

I am assuming since I would act as the bank - I would have to provide yearly interest tax statements for the buyer.Thanks,Scott

@Whitney Lares I kept my first BRRRRs as LTRs, I know MTR and STR have higher income potential but my goal is time and income, LTRs provide me that and the management of these in STL are much lower monthly % so it works for me.

After thinking on it a bit more, I am going to look into the feasibility of a rent by room strategy to increase the cash flow and speak with some lenders to learn more details about what I'd need to provide to be able to consider these rents in my DTI calculation when I am qualifying for the next mortgage.

Is there a way to do this legally that would provide a tax benefit?