Purpose of the fund: To purchase old land, rezone, demolish, and rebuild homes to sell at a profit.

My vote is invest in other markets where the money makes sense and then take that profit to visit whenever you like. 

I am guessing you like the numbers you see in Strawberry Mansion and Norristown (Montco not Philly) but do you know for a fact that at those numbers, you can do a full gut rehab and be at a number that will allow you to profit, and along the way make some sizable mistakes especially if this is your first project . . . 

Sell it for $220-240k rangeInvestor puts in $60-90k, Flips for $350-400k realizing a profit of $50-100k. 

If both houses were sold in 2024 then the loss will negate the profit from my understanding.

Id like to understand what the most profitable way to fix up a current 1,700 SFR in a 6,200 sq. foot lot would be?

Should I buy it and take  500-600 less profit per month knowing I can sell it for a large profit as is or even more if completely remodeled?

Back before I retired, I didn't need any of the cash flow at all so all profit just rolled back into more properties.

Thanks Dennis, I think you're right that planning for a more conservative return would be a good idea.I re-ran my numbers at an even more conservative level:Lower ARV: $800,000Lower income levels (I'm assuming it will take a couple years to get up to full potential income, but giving myself 3 years was a conservative estimate):Year 1: 50k (NOI $1,000)Year 2: 80k (NOI $31,000)Year 3: 100k (NOI $51,000)My ROI numbers come out to:1% (year 1) 46% (year 2) 76% (year 3)This scenario seems like an acceptable risk to me, when the upside seems far more profitable.

Look for ways to increase profits but without cutting corners.