And yes, unofortunately you have to crack a few eggs to make an omlette.

So it sounds like I likely have 2 options:1) just sell the property and eat the Cap Gains tax and move on, or2) do the entire exchange under our personal names and do a “improvement exchange” and book it through the home build.

I don't know what is standard and if I just eat my lumps and that's how it is.

I will set aside the other 8k for cap ex/nest egg.

A lot of developers will have their own PM and that'll eat up your profits. 

If longer, you might be stuck eating those costs.

Many things listed would be considered significant services and would have you losing much of your tax deductions.I know of a couple of STR owners who had to eat a big tax bill due to this and they had to nix those sorts of offerings.That doesn't mean you can't create the wellness space, golf simulator, upscale game room, etc to enhance the space.

Longer vacancies can eat into profits.Alternative Strategies: While BRRRR can work, Wichita might also be suitable for:Buy and Hold: If rehab costs are high or competition is fierce, focusing on long-term rentals with good cash flow could be a simpler approach.Remember: Talk to local real estate agents and property managers to get a realistic picture of rehab costs, rental rates, and vacancy times in Wichita.

Prices for everyday things like eggs and shelter are rising faster again (Axios).- Broccoli Sprouts are Cancer Fighting?

Holding costs (insurance for vacant property, utilities, and interest payments for Hard Money Loans) can eat up your profits.