My broker and my wife think it's much better to rehab and sell it than rehab and rent, in part because it has a pool.So now we are in the process of buying a house, to remodel and hopefully sell fast enough, and that's when I started wondering about taxes, liability and what not.

@Matthew Paul - spoke to the Wife and she is not comfortable with keeping our house as a rental. she strictly thinks the new tenants will beat it up and leave it in a state where we'd have to sink money into it to fix it up before selling. also, if we hold it for a number of years, she is fearful that it will be "out of date" and we'll need to sink money into it to remodel it as well.i am more of a risk taker than her and do not agree but we have to come to a consensus.we also would likely need the profit of the current home to move into the next home - for a down payment.creative options/ideas?

He may have been jilted by a “bad” contractor in the past and has thus concluded that all contractors have the same traits.I’m now a retired GC with over 40 years in the trenches building and remodeling homes and buildings.

Sounds like some of the buildings I have in Lewiston and Auburn lol.I usually replace all the electrical when I do a remodel on an apartment.

So the unit was remodeled including fully renovated kitchen.

Hey folks, my wife and I are circling a historical home in LA (1930's) that needs to be updated.  has anyone on BP done this with a historical house? Anyone have experience with the Mills Act?Can you recommend a GC to...

The home is 80% remodeled.

Siobhan Bennett @ Keller Williams in Bedford, NH (http://sbennett.yourkwagent.com/) and contractor Michael Mayo, owner of Your House Remodeling in Concord, NH (http://yourhouseremodeling.com/YHRLLC/Welcome.html)

Siobhan Bennett @ Keller Williams in Bedford, NH (http://sbennett.yourkwagent.com/) and contractor Michael Mayo, owner of Your House Remodeling in Concord, NH (http://yourhouseremodeling.com/YHRLLC/Welcome.html)

Since her home was flooded due to an interal plumbing issue and the insurance company is paying to remodel the existing old (1920s) and dilapidated structure (could tell by looking at some of the 2x4 studs revealed in the partial internal demolition), I decided to find out if my mother can use the money should would receive from the insurance company in the form of a check, put that towards the remodel, and in addition secure a construction-to-permanent loan in order to fund the complete transformation of her 1 bed 1 bath 1,200 sqft home into a 2-story duplex that she can rent out, airbnb, etc.