All Forum Posts by: Leonard Fisher

So, theoretically then, I could do the work and legally pay to have a contractor inspect, and then sign off on it (provided he is satisfied with the quality of the work done), and be free of the one - year waiting period?

BTW, I want to thank everyone for your contributions to this thread, and for helping a newbie gain some valuable wisdom with clarifications on this issue. I very much appreciate the input.

Here is an excerpt and link:

http://www.ppines.com/DocumentCenter/View/67

Florida Statutes, Chapter 489, Licenses Required, 489.103, Exemption [7] License requirements do not apply to: Owners of property when acting as their own contractor and providing direct, onsite supervision themselves of all work not performed by licensed contractors: (a) When building or improving farm outbuildings or one-family or two-family residences on such property for the occupancy or use of such owners and not offered for sale or lease, or building or improving commercial buildings, at a cost not to exceed $75,000, on such property for the occupancy or use of such owners and not offered for sale or lease. In an action brought under this part, proof of the sale or lease, or offering for sale or lease, of any such structure by the owner-builder within 1 year after completion of same creates a presumption that the construction was undertaken for purposes of sale or lease.

Thanks for looking.

Does the one-year-wait restriction (upon completion of renovation work) apply to homes paid for by cash and NOT financed, or are some deed restrictions applicable to homes sold to potential flippers irregardless of the source of purchase capital? Does it depend on the county or are there federal rules that pertain to this matter universally?

For the sake of discussion, assume that anti-fraud flipping guidelines are being adhered to religiously and the home being purchased is very low in cost, needing much renovation work, paid for in cash and not in a neighborhood with strict HOA guidelines.

Thanks in advance.