Purchase price: $230,000 Cash invested: $283,550 Sale price: $283,500 Purchased off market. $25,000 Rehab. $20,000 profit after realtor commission.

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.

Start off by completing your profile.

Nothing will piss off the inspector faster than missing an inspection.My last piece of advice, in an effort to not make this a book length post, deals with the money.

The better theming will attract a higher quality customer that understands the value.

If an LLC owns the house....you personally are not the owner.

The cherry on top is that he is always enthusiastic, and he truly seems to thrive off of helping and coaching others which is infectious. 

Why not take his name off the LLC and put it in your name now while the LLC has $0 of value (or whatever nominal amount your articles of organization or operating agreement say that you contributed)?

Little did I know it would take decades to ripen :)3. bought a foreclosure sale .. traded the house for the 3 acres the person who owned the house. 

Also, you should also consider in your talk with your attorney that you will be moving back into the property and taking it off the airbnb marketplace.