I think it sounds like a nice product if you are planning on owning for a long time.

Again, I am not in this for income, strictly for a good retirement and assets to leave the kids. 

@Cole MitchellYou can certainly sell an asset by an S-corp to the shareholders as long as the sale is at an arms length transactions.The questions is should you.If you plan to acquire it in an S-corp(you will be forgoing the section 121 exclusion which you said you are okay with) if you are going to just sell it within a year - you should just sell it directly from the S-corp.Transferring the property from the S-corp to you personally and then eventually the buyers will cost more in title work.

This lot price seems way high for what the market demands [350k for a finished product].

FICO scores count all pulls as one if all the inquires are within 14 days of each other and for similar loan products.

A good realtor can be a great asset and definitely be worth the cost in commissions, but bad ones can potentially crush profits.

Ikea hacks and Ikea hacker terminology (e.g. ikeahacker.com) is widely used on the internet for people who turn Ikea products into other things. 

As well as that side of due diligence, I reckon your greatest asset will be: having the right Property Manager.

If land lording is in your long term plan no sense in selling off your 1st asset that likely has a more favorable owner occupied loan on it to later buy another property with a less favorable loan.

They are a team of attorneys and CPAs who specialize in asset protection and tax savings and they work primarily with real estate investors.