And that would only be using the difference in loan payments from a year ($1212 x12), so I could do this yearly or every other year and come out way ahead.I tend to think of ideas like this and sometime miss a small detail that has an enormous impact on all of my numbers, so please tell me if I am way off base!

Things like, but not limited to, taking distributions, funding the corporation, corporate formalities and defining payroll -- details on the process and gotchas.

I can create a private profile for you on our site & see if we have any interested property managers. 

I can provide more details if you're curious.

Flips are a great way to multiply capital, even a better way of creating capital (by using all hard money).

There's a lot to be said for creating goodwill with tenants, especially in the beginning.  

The home is 1700 square feet so creating a 3rd bedroom should not be a problem.  

This creates a WIN-WIN Situation and gives the Realtor incentive, to work harder on your behalf. 

A friend suggested I join this forum for tips and details on escrow, renovations, renting out, and property taxes.

How do I go about creating a subject to our lease option agreement?