Those fat margins can be very tempting, but there is a reason they are giving it away!

One month for permits, three months for construction (but likely four to five), and then sold within another two months.Comparing the building department in Oakland to Berkeley: We acquired a lot in Berkeley, and that one is going to take a nightmare-ishly long time to get through the building department, but the profit is fat enough to be worth it.

@Terry Odom  work the phones  real estate is  belly to belly.

David Bell I think you have correctly identified the problem.

So yes, if you can afford to put down $200,000 and see NO return from it for 25 years, but THEN you get a fat check for $1,500,000 (in 2040 dollars) when you sell (it should have been for $3,000,000, except for the great crash of  2025), then yes, many people use this approach.

Without an Exclusive Buyer's Agent Agreement, I'd say that realtor is out like the fat kid in 5th grade dodge ball!

Numbers are numbers, last time I checked they don't smack you or call you fat so I don't understand how they come with emotions. 

Since it sounds like there's plenty of fat on this deal, I would say do what she asks and do it right.

There's an old saying, "Pigs get fat, hogs get slaughtered."

Hopefully you have built up a nice fat list of rehab buyers to wholesale to.