Sure no one gets hurt from your perspective but you're wasting peoples time for your benefit.

The implication to watch for is that it is considered a deemed sale from a tax perspective.  

You will run into trouble if you slack with cost or schedule control, and I have paid my tuition in the school of the hard knocks myself.A project of that scope, in my opinion, would be a "barely worth looking at" project from my perspective having done 25 renovations, 17 of them total guts, 11 of them over 100k each.It is a personal opinion, and it is not because the money isn't to be made there.

Again, each person has different risk levels and it is important to stay true to your views on risk, but hope this gives you a different perspective to then make a sound decision.

I'm a "newbie" but wanted to get some insight and perspectives from other areas of the country.Here in Cincinnati we have a neighborhood in the metro area with explosive apartment/condo growth.  

Think of this from two perspectives...Are you an aspiring Realtor (read that as working in a bull pen, getting to share a farm area, and working at a "big box" Brokerage)?

Better yet, find a couple of people as you will get a few perspectives. 

As a result and from a tax planning perspective, individuals will process partial Rothconversions each year and higher amounts in years that they don't have high earned income earnings because the amount converted from the IRA to the Roth IRA is included in your taxable income for the year of Roth conversion.

_________Thanks for all the advice guys, a great way to get different perspectives! 

I sent out letters for a looooong time from a different perspective -- trying to get landlords to come to us for property management -- and I learned a lot about getting your mailing exactly right.