A beautiful home that profited well.

My thoughts are that if it’s in good enough shape I can sell to a consumer buying with a mortgage company or if needs work sell to an investor for a discount to make a profit.

Where do I start;  how do I find the right properties; what to look out for; what outlets do you use to ensure you don't pay too much for a property; what strategies should people in their mid-40's use to maximize the probability of success and profitability; etc., etc., etc...

They have profited many times due to our management of the real estate. 

A 1031 exchange is NOT available for owner occupied property so that’s the bad news.The good news is for owner occupied primary residences, for married couples, the first $500,000 of pain is tax free.No need to worry about a 1031, live in the house, sell it, use the $500,000 exclusion and you pay KP tax on whatever profit may exist,2.

But the props were in your name and they had a loan against it and then when it was done they bought it from you and you made a profit ??? 

We've done a lot of deals together over the years and I appreciate all the work he's put in over the years especially when we were doing really lean deals and there wasn't a whole lot of profit there for him relative to the work he was doing. 

Can get it rent stabilized, sell 4 profit, rinse and repeat.

The marketing isnt that important in my opinion but the professional photo/ video is a huge game changer and I dont believe that someone is going to make much profit at .5% on the listing side.

I guess we could maybe have the builder agree to the cost of the build and if we sell for more or less then the profits would go up and down based upon the selling price.