Hey @Jeffrey Smith I'm with the others in that we are bullish on this industry but since you asked about exit strategy I thought I would share ours with you since its a bit unique.  

@Joshua ArsenaultMany people who are CPA's that don't work on Pennsylvania / Philadelphia often miss out on some filings that can cost clients a lot.Philadelphia is a unique jurisdiction that has its own filing obligations.The NPT(Net Profits Tax) and BIRT(Business Income Receipts Tax).The above filing obligations are required but hopefully don't increase your tax burden.Also you mention, "partner and I", depending on how title is held(Tenants in common vs partnership/corp), a separate entity tax return may be required.Best of luck

Everyone has an area where their unique skill set aligns with what they like to do.

It's been on the market a long time and is unique, thus she's having trouble selling. 

Like the ones I looked are within 3 hour driving range.

That said, I finally caught a break and have been presented with a unique opportunity and although I'm not overwhelmed yet (excited!)...

I am definitely looking for cash flow as soon as possible, so maybe I can lower my price range and instead of financing 96.5% I’ll finance 90%

As you will see LLC's come with a few downsides, especially when you are not in the million dollar range.

Recently, I read the biography Snowball on Warren Buffet.There are many unique attributes that have made Warren Buffet one of the greatest investors of all time: his ability to ignore criticism, his long-term focus, his remarkable ability to devour his way through volumes of books without distraction, his detachment from emotion for investing, his tremendous frugality, and much more.Buffet does have something we can all replicate.

As another local LA licensed general contractor and RE developer, I agree with this assessment and would only add that the range will vary depending on size of build out as well.