Then you have the rest of that set to distribute to other units as pieces get destroyed.I try and do the same thing with all the dishes, silverware, sheets, towels, etc.

Your distribution more than your initial capital just decreases your basis.

Typically though an appraiser will use a income capitalization approach on an income producing asset.Essentially value is derived from the Income - Expenses = Net Operating Income and then a cap rate gets applied to it to determine value (cap rate isn't a sole indicator of value just one of the many parameters that people look at).Feel free to DM me some details and I can assist, but it varies market to market.  

The real difference will be the estimated 7,500 new section 8 voucher's that are on tap to be distributed as they opened the wait lists and are considering added that many families with vouchers.

You could always take an early distribution from your retirement and pay the 10% penalty if the deal is worth it, but how long would it take you to recover the $2.5k penalty?  

@Michael Sanchez   start with lender who is local and you can go to their office and meet them. rates are derived by supply and demand and are different throughout the country.for instance in CA.. were the supply of money is HUGE  rates can be 1 and 7 or 2 and 8..

When I corrected it, we used joist hangers which distributed the fasteners better.  

as an alternative to corporations they are easier to form and maintain and they allow un even distributions.. for asset protection nothing protects you if your personally guaranteeing loans for your deals or are out there and doing business in the public realm.. they will sue you and your LLC.. first thing they do .. figure out who owns the LLC and sue them as well.  

Further Details that may be pertinent: We are planning to file as an S-corp, with me managing the property and her receiving the distribution portion. 

Cash at closing & construction draws should not be included in your Net Income calculations.Cash at closing -  Cash received at closing is the Equity left over from paying off your outstanding loan balances (loans, owner's capital contribution, etc.).Construction draws - Construction draws are distributions that are added to your outstanding Loan Balance, so this is actually debt, not income or revenue received on the project.You will want to track your Loan Balances, Construction Draws, Loan Payoffs separately from your Net Income calculations.