This is one of the MAIN reasons I posted this thread, because like say a RE agent targeting the 'higher end,' I would prefer working with 'professionals,' who are either 'relocating,' or perhaps had a divorce, job loss and/ or BK filing... but now have good cashflow and a great job, or successful business venture... vs. people 'wishfully thinking' that will ultimately LOOSE their down payment,' the majority of the time.

Ultimately if I went through with this I'd like to keep the house in the family and put it up for rent. 

If so, the answer to your question depends on why you need this corporation.Start at the end and work backwards.What is the ultimate goal that you want to achieve?

If you haven't already read through it here's "Tenant Screening: The Ultimate Guide"https://www.biggerpockets.com/renewsblog/2013/01/2...

I have reached out to both of you via PM, as I can not promote the details of the meetup within this forum topic.

I am looking for advice on how to get a total estimate for repairs that need to be done on the property to get tenants back into it as that is my ultimate plan for the property.

Ashish Garg the property mgmt company o use is excellent, however, this is not the correct forum for me to promote them.

Welcome to Biggerpockets @Kevin Dreher This BP guide would be a good start to read https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/

I understand that ultimately when i sell it, depending on how long i stay i may be able to get a cap gain tax prorated on number of qualified years, and that i would need to recapture depreciation already taken.

I was soon after promoted to Foreman then to a superintendent, after a few years of doing that i was promoted to a management position.