Talk to an LLC Lawyer in your state as a consultation to figure out what laws come into play.Make a trip to your State Capital, Rep & Dem Reps, Federal Gov't and their Rep & Dem Reps on the internet or by phone of course to find out what grants might be available to you as a Vet, single black mother, young business man, retired old guy, whatever you might qualify for to pump up your business.So think about how much money you need to play with to "Buy & Flip" REOs.

I am a real estate consultant in Costa Rica.

There may also be advantages to being taxed as a C-Corp, though it's unlikely given what you'll be doing.That said, I would consult a CPA or an accountant familiar with real estate and let him/her advise you of exactly how you should be structuring your LLC for tax purposes.

I work as a cost engineer for a consulting company, Turner & Townsend.

They must consult with a CPA.

You should consult an attorney.If you don't have any written contract between you two, then it is just a moral issue and not a legal one - your choice which way you want to swing.

Since you are in the Phila. area, the contractor that I posted in your thread could be consulted for an opinion on prices and colors.Regarding the hardwood floors.

My friend whom I consulted with when I started, have houses in San Antonio, TX when his tenants didn't move for eight and ten years.I cannot advise you on Multi-family since I don't own any but for me, it doesn't really matter of you own three houses that cost $100,000 each or a triplex that cost $300,000. 66% of occupancy would be the same for that triplex or those three houses combine...

(You would need to consult a tax attorney to get the details worked out.

And there are so many "chapters" that this actually may not apply to you.Best answer is to consult with your attorney as these rules keep changing as well.