They aren't super pretty (ARMs with rates well north of 4%... still way lower than HML), and obviously your plan can/should be to refinance into fannie/freddie money the second you're in a position to check the necessary boxes. 

@Sterling Cox Thanks for the tips!

The individual who started the thread did not mention Apple Blossom, but when I posted below, he replied back that the property pitched to him was actually on Apple Blossom.

Very inspiring story and super helpful podcast with tons of practical info.

It is a terrible way to go.I agree with @Doug Rose, that most cases, S-corps are good for active businesses and LLCs for passive businesses or holding RE.Get with a good, local CPA fast, before you make any moves you can't take back.

It is best to pay down on the loan as fast as possible to get the property paid off.

What I would do in this situation is a tip I learned from my trainer.

It super educational and you'll get a great introduction to what BiggerPockets has to offer.Check out the "The Ultimate Beginner's Guide to Real Estate Investing".

She is very desperate in getting rid of this property and has given me 2 weeks to take action so i need to do something FAST!! 

These people usually have a vacant house and just want somebody to give them a quick solution.Those are some tips and ideas.