The proposed tax rates for buildings sold within five years of being purchased: Sale within one year: 24 percentTwo years: 22 percentThree years: 20 percentFour years: 18 percentFive years: 14 percentThe tax would not apply to “single-family homes, condos, owner-occupied tenancies in common, properties not being sold at a profit, new construction, properties being turned into affordable housing, and buildings with more than 30 units.”

I would get proposals from all 3 and inform your vendor(s) that is your intention.  

("Move" or the "Company") (MOVE) relating to the proposed acquisition by News Corporation ("News Corp").Click here to learn more about the investigation http://brodsky-smith.com/829-move-move-inc.html, or call: 877-534-2590.

Also with the Dodd Frank legislation that came in this year I understand that rent credits are no longer allowed.

Did you hear of any legislation going to your state for a change in the law?

@Jay Hinrichs  and what would YOU propose? 

That's why it is important in such situations for you to make sure that the amount being requested for the construction loan is sufficient to build what is proposed, but not enough so as to encumber the property for more than is necessary, along with the other precautions I have outlined.

What he is proposing will not fly with a bank and it sounds like his owner financing terms would cost you a ton of money in negative cashflow every month (on average).  

I'm going to propose to her that I'll give her the 10k, and I'll assume her mortgage.

May I propose an alternative theory?