Oh and plus my partners wrote a 3 million dollar check and we closed in 10 business days that's how we got that deal... it was a retired basketball star that had fallen on hard times and Wells wanted it off the books by quarters end.. so right time right place.. and I had the money to rent a jet to fly the money boys in ...

If you are in a downtown area you may want to stick with the comps within a quarter mile if you can, if you are in a more rural area you can go out a half mile or so to make sure you know you're getting the same value.

Buoyed by historically low mortgage rates and robust home sales activity, Austin has blown the roof off its homeownership rate.In the third quarter of this year, the homeownership rate in the Austin metro area skyrocketed to 74.7%, according to a report released Nov. 17 by the Texas A&M University Real Estate Center.

I also inspect regularly (quarterly) and can catch problems early.

Quarterly inspections are a must!

However, if you are also going to flip houses, then you should look into running that income through an S-Corp via another entity.Recommendation: Being your size right now and in order to prepare yourself for growth, I'd try to have the following things in place:- An LLC with a separate bank account- A system where you document all receipts for your expenses, including mileage- A simple spreadsheet or basic accounting system that helps you allocate expenses and income by property- A process where you reconcile your bank statement at least quarterly to make sure you aren't missing any expensesThere may be something I'm missing because I don't know your whole situation, so please talk to your accountant or attorney before you act on any of the things I said above!

If I were in CA with the $800 annual LLC fee (and quarterly reporting requirements?)

Its not worth the time trying to drywall and tape what a professional can do in a quarter of the time. 

I would do a deal where they get a quarterly check for how much profit was made!

Internal notes, such as budget X in quarter Y, hire additional staff to make Z happen, etc...