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.

Intentionality is a critical part of the plan!

However, the s-corp (or LLC I suppose)  has things available to them that can be established like defined benefit retirement plans or SEP IRAs.  

Sorry for the rushed planning.

Scope of Work - Prepare a detailed scope of work outlining the renovations or repairs you plan to undertake.

What type of investing do you plan on making your primary focus? 

I'm wondering if I need a different contract in each state that I plan to invest in and use a private money lender to fund a deal.

. :-)I plan on renewing the plan when it expires in July.

I would suggest creating an LLC if you plan to own multiple of these so you can grow your portfolio from the LLC.

If you plan to pay it off after that 3 year mark, you won't be penalized.