@James Boreno You’ll likely owe taxes, but don’t forget to account for your adjusted cost basis, which factors in the original purchase price, depreciation over 10 years, and any capital improvements.

Maybe that is gross profit when you sell it, but what about the cost to build it?  

Even 600k loan at 10% interest costs $165 a day.

  ( Maryland )  Small parking lot 12 cars plow and salt $450 . 2 in trigger Costs are regional for sure 

Would you mind sharing the cost?

Am I more likely to be able to add $50k or $100k of value above cost in a high Cost RE market or a low cost RE market?  

Sherman does seem interesting though because of the lower cost and growth potential.  

I decided to buy the property from my grandfather using a gift of equity, which allowed me to take over ownership without having to come up with the full down payment and pay for the tax lien and his closing costs.

We sell the property to the tenant buyer with minimal closing costs.Here are the numbers for our most recent project:Purchase price 138kRehab around 40k Closing costs 7kCarrying costs 5kSecond closing costs 7kAll in 197kARV 245kLease option fee that comes to us 4kLoan amount 180kMoney left into the property 17k in the property, 10k in the account, 5k to meSales price in 3 years 270kLoan balance in 3 years about 170kCash flow 140 a month.Estimated profit over the 3 years is around 70k. 

Every time we're preparing for a new administration, there's plenty of tax-related noise.