I think working with an architect to build something really unique and custom is always the best move if you have the budget for it.

I can’t imagine the returns you would have to generate. 22% federal tax, plus 8% state tax, plus 10% penalty.

At least now your tax basis is $220k ;-)  What was the extent of the repairs?

At a high LTV your leverage will be magnified.If your cash flow really is break even (I have my doubts) then with the magnification resulting from leverage, you could produce a fairly good return (ROI from leveraged appreciation, equity pay down, tax benefits).Good luck

Tax liens2.

local PM here - I would master underwriting and build out your network.

Are they currently investing in deals and building in this market.3.

It’s awesome to see your passion for real estate and your clear goals for building a portfolio.

In doing so, bear in mind that the cost and admin of a corporation is higher and that the tax treatment is different:1.

The property owner's tax professional can help them with that and ensure they don't pay taxes twice on the same income.Disclaimer: My advice/opinion in this post is just that, my opinion.