Profit from a flip is consider active, ordinary income subject to "all taxes" such as self employment taxes and reported on SchC. 

So, I assume the intention was generate income. 

(I started my self-employed journey back in 1977 as a pool cleaner)

Of course I will continue to volunteer but as far as employment, I feel ready to just dive into real estate entrepreneurship.

LLC stands for limited liability company not corporation. do not setup a s corp for rentals, you might get hit with self employment tax. also C corp is not for rentals lol. tax designation for LLC for rentals is either disregarded or Partnership. please dont take advice of people on forums on legal matters. 

I am hoping that it can generate good cash flow as Spring, TX seems to be a renters market and being close to Exxon HQ and Woodlands.

@Josh Caldwell Josh, do you think hard money strategy can be employed for securing a multi unit (4 units residential) if secured with a HM lender who will refinance the original loan after a specified period of time?

I'm not sure that your 401K would require you to pay it back if you left that employer? 

The debt coverage ratio is an indicator to the bank there there will or will not be enough income generated by the subject property to pay off the mortgage.

Toledo is also the home to many employers.