If you buy a property with the intent to hold it then even if you hold it for less than a year it would still be an investment and eligible for capital gains tax treatment or a 1031 exchange. 

In many locations you are no longer permitted to install garburators/garbage disposals due to the adverse impact they have on sewage treatment infrastructure.  

Mostly were neighbors wanting to see the changes to the ugly house on the corner that was an eye sore for them for so long.

Two of the buildings basically got the full exterior treatment and a total of 4 units got a high end rehab.

Needed improvements will be made to the Montebello Water Filtration Plants, and a new water treatment plant is being designed for Fullerton.Plans to cover the drinking water reservoirs at Lake Ashburton, Druid Lake are ongoing; work is now underway at Guilford.DPW is nearing completion of the BaltiMeter installations to ensure accurate and timely water meter reading.

It's worse now.It's on a block with really well kept houses so it sticks out like a sore thumb. 

I do know that accounting requirements will be the same as the treatment to recognize assets is based on international accounting standards, so, sellers beware you may be taxed on a sale without having received enough to pay them.

Guys- if you don't think I talk to investors every day about their individual investment situations without ever mentioning what I do for a living, you are sorely incorrect.  

You just need to factor in the different tax treatments, which is where people considering this option sometimes miss the boat.

When I buy an older, outdated, run down and small home in a nice community, add size, build it new, and create a showpiece for the neighborhood, then sell it, I have created a great place for one family to live in (agree or not, I believe this is a solid benefit to the buyer), I have removed an eye sore and created a beauty for all the neighbors to look at, I have raised the value if everybody's home in that area, and I gave created larger property tax revenues for the city and state which funds schools, etc.