I would add to the "sales" portion of the advice above that timing is key.  

(Ironically, I'm sure a good portion of the people arguing against development are also upset with the government for not tackling the affordable housing issue.)If I were WIP and felt I just got cheated out of my right to develop that land, I would have put a fence around it. 

If house hacking, allocate expenses between personal and rental use to claim deductions only for the rental portion.

If they’re selling for a $400k+ gain they could look at a 1031 for:A super nice 2-4 unit they wouldn’t mind living in a unit of where the rental portion exceeds their 1031 sale. 

Rental Income Consideration: If the property generated rental income while it was debt-financed, the portion attributable to the debt could have triggered UDFI.

It was vital that the house be in close proximity to the one who knew how to do the repairs, because of the technology of our current time theoretically Id be able to monitor and track progress with a trust worthy foreman whos on the job, performing repairs, managing subs, and moving the needle.

Took the entire middle row you see empty plus some more portions of rows later. 

Our Private investors will fund the remaining 10% of the purchase price, the first portion of the rehab (to be drawn later from the HML), and the holding costs. 

They can work out that payment situation..... who is paying what/when/how... not my problem The deposit is on the property, not the individual.... its stays with the property- if the "move out person" wants their portion now, they can get it from the "stay person" and the "stay" will get the full amount at move out.

Perhaps in return they collect an acquisition fee,  collect a construction management fee & share in a portion of the upside.