I am also pretty familiar with the S-Corp and work with other investors who are using them.Ultimately, I would say it's important to just meet with an attorney and a CPA so you can measure out the cost/benefit of each structure and pick the one that fits your portfolio and goals.

Read Tax Free Wealth by Tom Wheelright for a great explanation of why you should meet with your tax advisor first to determine the best structure for tax strategy and then have that person work with your attorney to ensure the structure is set up correctly.

So it sounds like I should definitely speak to a Real Estate Lawyer to get a better idea of how to structure and put together an operating agreement.

I had permits for HVAC/Plumbing/Electric/Roof but not structural  as I thought my contractor had that taken care of.

David,Insurance policies for flips are structured different than those created for buy and holds.Flipping policies will give you coverage during the renovation time period as well as any long term vacancy, usually more than 60 days.A buy and hold policy expects the property to be rented and can deny claims related to major renovations or during a long term vacancy.There are specialized insurance programs built for flipping that most flipper will use. 

I need them to understand real estate, legal structuring, cost segregation, depreciation, etc.

He's helped out realtors and an investor with lawn service on their listed homes and also delivering supplies for a homebuilder, so he'll be happy to give you a free estimate and work with you too.

Does anyone know a good way to structure getting out of this property smartly?

I like the Houston multifamily market, however, it's a little more challenging to navigate, and it looks like supply is ramping up there since the hurricane last year. 

It got us in the game and we worked with a great attorney on drafting the lease option agreement and structured our first Limited Liability Company.