Depending on how much of rehab you are planning to do to the property some it might be a wise decision to go out there and spend sometime and take care of those rehabs yourself before handing it out to a PM.

Not a CPA or tax professional.I’ve never audited every single line item of my S-Corp tax returns for over 18 years, and I’m truly curious why it really matters in one years instance, what corporate account was used to conduct business, as long as the financial information is accurate and correctly reported from said dedicated business account.This should be a separate issue from proper and legally correct business operations, ie a checking account with correct tax ID, no outside commingling of funds with self or other business entity.

That’s good information.

I'm trying to rationalize making a decision between condo'ing it and holding, and here's where I ended up with it.

@Ann Bellamy That's really good information to know, thank you for sharing that Ann.

The information contained in this post is not to be relied upon.

Any information and words of wisdom are greatly appreciated!

Thoughts on seeing the new builds through to a decision or signing now and pay for their expertise and assistance through the process. 

Eric, I have a similar situation and would be curious as to what your final decision is in your case.

They can handle the front-end communication, allowing you to focus on more critical decision-making tasks.