, etc).2) if not, how do i physically go about the transaction?

Please review the notes below and let me know how you would structure a deal...$150k cash once current rentals are soldLooking to build in an area where land is approx $450kAverage house size in this area is 3500sfAverage sale price of houses in this area is $500/SFI have a day job in the construction industry and would build this house in addition to my day job.  

What is your management structure? 

Ultimately I would be taking a bigger risk by structuring it this way. 

It has new windows, but otherwise from the outside, needs a new roof, new stucko, paint, pointing, and other obvious structural work that an old building would need.

I know you cant use the regular Post Office PO Box here in Michigan, but was curious about the UPS store as they do in other cities due to there being an actual person there to sign for your mail and giving an actual physical address.Thanks

That depends... and I think much of their structure is constantly evolving as securities regulation loosens.

You need to have a physical street address for the LLC's RA in NJ in order to accept mail (in the event you are sued as an example).

How should the master lease be structured?

Check tax records for physical properties of the home (number of beds, baths, sq ft, etc and compare to old listing information if available.