You can also talk to the realtor's board and find out what the rules are for PM. 

I have 3 pieces of advice to consider. 1) I’m unfamiliar with the specific condo you mentioned - but as a general rule of thumb when it comes to condos.. 

However, it's important to note that using leverage in an IRA can trigger Unrelated Business Income Tax (UBIT), and there are strict IRS rules to follow to avoid prohibited transactions.

HI @Jyotin GautamShort answer is no in Texas Long answer according to the Texas Real Estate Commission " Under the amended rule, a broker could give an unlicensed person a gift of merchandise having a value of no more than $50 and this would not subject the unlicensed recipient to a charge of unauthorized practice as a broker, nor result in a violation of TREC rules by the broker giving the nominal gift."

I’ve also spoke with a lender (one lender so far) and they mentioned that some rules have changed and we might not be able to go that route. 

I have been doing off-market acquisition for more than 30 years so I think I have some advice to share so people don't step in the same potholes that millions of newbies have by trying to build a wholesaling business without access to ARV and no knowledge of repair costs.Under what rule is every response supposed to be solutions?

Of course this is a broad trend and not an absolute rule.

That seems to break a scared rule.

For a bathroom or kitchen type remodel scope I will side with you, 1/3 wouldn't present any red flags but not for a more substantial renovation scope and certainly not as a general rule of thumb for all construction projects.

A good rule of thumb is materials time 3 you left out appliances potential plumbing problems potential electrical problems that looks to be more rot on that roof and meets the eye