The initial ballpark bid from the contractor was looking promising but since seeing the crawlspace I am having second thoughts on going through with this. 

This is just one reason we insist on going to lunch with anyone who wants to borrow from us.

Obviously that is not a realistic ongoing expectation but we believe going into spring value should pop again if we want to turn around and sell for a decent profit.

A quality plan provider will educate you on the IRS rules an provide ongoing access to guidance on such matters.

There is a shortage of pilots and training is always ongoing.

Once I ran a higher priced sample deal through the BP rental calculator, the numbers definitely didn’t work.

We are planning on going 50/50 on everything, down payment, mortgage etc.  

I've read in general it takes about 3- 5 deals a year to break even on the initial and ongoing licensing costs and effort. 

We do plan on going with an attorney to get most of these questions hashed out and written out to our needs, or least that is our thought process.

I am going to have a minimal amount for down payment and closing costs and will try to wrap as much as I can into the loan so when I ran the numbers, my cashflow, based on the estimated $5,300, was slightly more than $500 after expenses (if I ran the numbers correctly), which to me seems very tight for having such an expensive property.