So, as previously mentioned, the rules can be changed at the developer's whim.

Make sure to have clear rules in place.

I am leaning on local first for my next investment, but not ruling out an out-of-market opportunity. 

@Zach Denny  Similar to what Minna posted above, I have done with a local portfolio lender bank where they set their own lending rules. 

The rules are more complex than we can fully explain in an online forum.

Additionally, the replacement property must be real estate to qualify under IRS rules.

Too many rules.

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

., 8 AM–5 PM, Mon–Fri due to HOA rules).The clearer your scope, the fewer misunderstandings you’ll face.Signatures:Always have the subcontractor sign first, then you sign.

If a wholesaler can still profit while provided “full disclosure” and adhering to the rules and regulations of real estate licensees then they’ve earned their profit.