I think it is a lower risk building this in the center of a city than on 4 acres with no utilities in the center of a rural area without comps or limited comps and only a vacation rental market. my buyer pool is much larger being in a big city and urban and buying infill lots like in columbus ohio. this is just our strategy, I'm finalizing the renderings and everything next week an in contract on our first build for builds in Texas but this is what I would do.

That could be a classic example of mixing monies, thereby rendering the LLC pointless, or it could be setup as a property management company with paperwork showing that it is renting out the property on behalf of the owner.

@Mooyoung O.we build a stacked triplex the numbers work best in downtown columbus in 43203 and 43205 and 43206 where we can get the land price under 100k and 3-4 units (40-45 dwelling units per acre) I attached the renderings if you are interested in new construction. duplexes are much more common. triplexes only represent 9% of what's been built in our market.

But again some mistake in the situs, operating agreement or day to day use can render them very weak. 

Here are the stats:$119,500 Sales priceComps around $240,000Rental approx $2,000 per month (close-ish to the 1% rule)Flip would likely render about 26% after work (I know not the 30% but close)Turn around would take about 4-8 weeks (think it would be closer to 4 with the right team)Which way would you take this and is this something you would jump on if you had the chance?

I attached our rendering if you want to look at the land and our product and a few lots we have tied up to do this I'd be happy to meet. 

I attached some renderings if you want to talk about tiny homes. the smallest home sold in our market per year has been trending around 657 sq ft for the past 15 years. most the time they set some of the highest price per sq ft.

I need a site plan and rendering to submit for the permit as well and am having difficulty locating the right person. 

Does anyone use a service to help you quickly generate more accurate renderings of your "after" prior to any "before" on any property?

I don't think adaptation will come into play here given your examples but a kitchen cabinet and/or floor replacement could be classified as a betterment or restoration; however, it would technically depend on the facts and circumstances.Yet, again, the whole determination may be rendered moot based on the safe harbor rule.