Quote from @Kevin Hintz: I can totally relate to the tight market and how hard it is to find deals.

While rates may not decrease, the significant double-digit increases should level off.

List price is 320K and it has been on market for 60 days.

If we can complete projects faster, we increase IRR and build trust.3) Market Risk- The longer it takes to complete a project, the more exposed you are to market fluctuations.This goes for all things Real Estate - BRRRRs, Flips, New Builds, Rehabs, etc.Real Estate is a wild ride I feel your pain, I've had this happen many times where the project is twice as long.

We listed strategically and were under contract in 2 weeks in the slowest part of the year (December) whereas all the other similar homes in the neighborhood have been sitting for months and still sitting on the market. 

If you're a landlord or investor in the Charlotte area, you might have noticed something unusual in the rental market this winter.

It may take 1-2 years and by the end you will have forced some appreciation from the renovations but also got some natural appreciation from the market.

You may also be able to "make your market" if you can hit a critical mass.

Let’s explore just two of the solutions that could help get you into your first home no matter the market.1.

In your case, changing the property from a rental to your primary residence constitutes a change in use.The depreciation recapture will be calculated based on the fair market value of the building at the time of conversion, not including the land value.Since you're tearing down the existing structure, the entire amount of depreciation taken over the past two years will likely be recaptured, as the building's value at conversion will effectively be zero.The recaptured amount will be taxed as ordinary income, up to a maximum rate of 25% for residential rental property (Section 1250 property).