You need to pay attention to things like rental demand, upcoming developments, and overall area growth potential.

I've developed, use with all my coliving properties, and teach HPM (household-led property management). 

First off- $4.5M for 48 units and 50% are vacant is not a steal, unless this property is located in a downtown area and you have a contact with a developer who will pay 2X to build a high rise. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.

I think development is getting more and more common since we're so undersupplied in housing. 

. - property had TDR trasnferable development rights and can be built 5 stories on it.

Flipping and other value adds is where the experienced investors are or if they are holding it likely is a development effort (such as adding a dozen ADUs).Good luck

SPECIAL RULES FOR SECTION 1031 LIKE-KIND EXCHANGE TRANSACTIONS, page 135 states:". 01 Taxpayers are provided the relief described in this section if an IRS News Release or other guidance provides relief for acts listed in this revenue procedure (unless the news release or other guidance specifies otherwise)..02(1) The last day of a 45-day identification period set forth in § 1.1031(k)-1(b)(2)(i) of the Income Tax Regulations, the last day of a 180-day exchange period set forth in § 1.1031(k)-1(b)(2)(ii), and the last day of a period set forth in section 4.02(3) through (6) of Rev.

I specialize in building and flipping properties, focusing on transforming houses into beautiful, functional spaces that create value for buyers and investors alike.With several years of experience in real estate, I’ve developed a strong foundation in market analysis, design, and project management.

The developments and businesses moving here.

Probably the most common mistakes made in the development business by non builder property owners.