or get this sold or is the interest rate too hard to get past? 

Its a lot easier to have a paid off portfolio of 2-3 properties earning you 10k/m in cash flow than 15 properties giving you the same return but are leveraged. 

Quote from @Vikas Jain: Yes, I have already seen the buy-in, im less concerned about that part of it, but just want to make sure its legitimate (plenty of opportunities where buyin is high but it doesn't always mean the product is good, just been burned in the past by others so trying to do better due diligence this time around)Their success rate, as of now, is 100 percent.

Hi, i have a handful of properties that i have purchased over the past several years as passive investments.

Have you searched your county site to identify those that have bought land in your area the past few years and then contacted them?

For the past month, I've been soaking up everything I can from the BiggerPockets podcast, and it's only fueled my excitement about real estate even more. 

While you did point out the negative aspects of a deal like this, you didn't really highlight the pros on the RE side and future investment, appreciation etc.I’ve done two of these projects in the past 3 years in SoCal.

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).

Can you provide testimonials or success stories from past mentees?

Fossum’s LinkedIn profile confirms past employment with Mutual of Omaha from 1999 to 2009.