Do you have this contracted in specific manner or is this planned for under the regular insurance?

I've also been checking Craig's List and Zillo regularly for houses for sale by owner. 

You have no idea how amazing this site is for those of us who are on here regularly.

Your general homeowners policy is not going to cover a short term tenant who gets hurt and a regular long term rental policy is not going to cover short term rental. 

From this number subtract taxes, insurance, some regular maintenance and of course a small margin for you (because you need to make something).

I'm thinking of just doing a demo on the Church and building 2 new homes (I know it sounds horrible but it really doesn't look like a regular Church) I would rehab and cash flow on the 4/3. 

Worth the cost vs regular mulch?

If engaged in on a regular or repeated basis, the gains from such a business activity are taxable even to a tax exempt entity like an IRA or other non-profit - the reason being that the entity is competing with other tax-paying businesses.  

I have a good sized buyers list of the contacts I have made over the years, but in all honesty, there are only 2 that I do regular business with where we pitch deals back and forth to the other and do business somewhat regularly on both sides of the table.  

The other ten or so people that regularly source deals for us deliver the other 20 percent.