No time to read all responses to make sure I'm not duplicating the same advise. 

I am getting myself more and more confused with each thing I read regarding which business entity is best for me.

Just read up for 10 - 20 hours and you'll know more than most "tax-prep" CPAs.

I’m 37...I’ve read all the books...watched all the videos...and now I’m ready to take actionable steps toward securing my future though REI.

Welcome and this site is a wealth of information and knowledge, my suggestion is read, read, read then get started! 

Thank you to anyone who takes the time to read this and even respond! 

Read the lease does it say deposit Or fee.

Been reading many threads and have been looking around in the market for some time.The property in interest is a 3 family home fully occupied, will be seeing it in person soon but was told there are no major issues that needs to be fixed so I did not include repair costs.

I'm sure you've sold plenty of condos to these folks.What's left over, such as the courthouse auctions, usually goes to folks with established businesses - professional contractors and long-time investors with rehab crews in place that can turn your $25k flip into a $15k flip.All of those rule-of-thumb equations you read everywhere are regional. 

I'm not sure how far this post will take me but I am am entrepreneur in the making.