@Daniel ScullenThe C-Corp generally makes sense if other investors (shareholders) will also invest in the C-corp because it will afford them limited liability. 

Also, saying that you need to get the concrete done anyway and don't have that kind of cash on hand leads me to believe you might want to think about getting some stronger cash reserves or your own lines of financing before proceeding; I've got credit cards with credit limits double that, where I could self-finance those kinds of repairs if necessary, but that's not a big enough hit that I'd have to worry about taking out loans on paid-for houses. 

however don't limit yourself...   

So I try to limit any cleaning demands from guests. 

I have very limited real estate experience but I do have some friends/ family that invest in real estate.

Generally, fewer buildings will likely be less expensive - especially for water, power, gas, ISP hookups.

The sky's the limit if you apply yourself.

The Deed of Trust or Mortgage gives them the power of sale if you don't!

Question 2: what are the limitations if any, regarding the price of the second home purchase?

Then the contractors realize you know what you are talking about and you will get taken advantage of a lot less. knowledge is indeed powerful.