This allowed me to control renovation costs, streamline operations, and accelerate my investment growth.

Although, I completed several gut renovations including garage conversions, in the past, I recognize that this is a different beast.

Do these renovations really need done or is there a more economical approach? 

However, the success of your project will depend on factors like location, renovation costs, and market timing.Many investors have found great success by focusing on high-demand neighborhoods with strong buyer interest.

They are known as the Winthrop Factors-The purpose for which the property was initially acquiredThe purpose for which the property was subsequently heldThe extent of improvements made to the propertyThe number and frequency of sales over timeThe extent to which the property has been disposed ofThe nature of the taxpayer’s business, including other activities and assetsThe amount of advertising/promotion, either directly or through a third partyThe listing of the property for sale through a brokerThe purpose of the held property at time of sale; the classification as an investor or dealer is determined on a property-by-property basis.To me intentionally buying a property to renovate it to resell it for profit, twice in the same year, and opened an entity to do it in ....is going to be ordinary income and not capital gains. 

Purchase price: $240,000 Cash invested: $60,000 purchased this distressed duplex using owner financing for $240K and a $60K hard money loan for renovations.

Hi Juliann, before moving forward, it’s important to determine the level of renovation you're comfortable with.

Investment Info:

Single-family residence buy & hold investment in Seminole.

Purchase price: $465,000

Cash invested: $80,000

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They would also provide the funding and renovation funds at 7%.  

The key is ensuring the property can generate enough income to cover the payments and any renovations you plan.As for pulling out equity later, this depends on the agreement terms.