I'd gotten an on-market property under contract, but I found out it had massive foundation issues so I decided to assign it.

We are interested in Mobile County and the Huntsville area.We are from CT, so we are requesting your assistance in finding ~  a good Alabama real estate attorney, and ~  interested investors for quick flips (initially)  We welcome advice and feedback to increase our knowledge of this state and those counties.I appreciate it!

Ah I see that makes more sense, so it's more of a multi-family building?

(I keep my house at 81 degrees so I feel rather apathetic to these issues.) 

I would think I'm small potatoes for them and the form 3115 is so ridiculously thorough that i think it all but negates audit but we shall see :).I will report back when/if i get it and what the timeline was/is, I was holding out hope that someone had some information on this but its been crickets.

So they just sheetrock over it....tape...bed...texture. 

Quote from @Simmy Ahluwalia: Yes, it's a 10-year declining dependent up on your term length and amortization period:  What You Should Know About SBA Prepayment Penalties | Pursuit (pursuitlending.com) Thank you so much 

I have a similar setup, but not for real estate, so it might not be 100% relevant.1) My partner and I set up a Partnership (ill tell you why next).  2) Then each of us set up S-Corporations, which is also owned by our wive's (could be owned by a trust for further protection, but I haven't).The reason we did a Partnership is for two reasons 1) You don't have to abide by the ownership % for your distributions (mostly), and 2) it can be owned by another corporation (S-corp can't).Again, this isn't for real estate, and could change because it's passive versus active income, but with our personal S-Corps, we can set up different strategies that i won't get into here.Feel free to reach out and I can introduce you to him.  

And so on.2.

How Columbus' highways will change with Downtown Ramp Up ODOT project  80 people are moving here every single week and 80 homes aren't being built, so demand is rising!