Everytime you sell you will be taking part of the gain tax free. 

Unless you prefer an active job and happy to gain the savings in return - nothing wrong with this. 

Both @Nathan Gesner and @Lauren Stark have provided valuable insights on this.One potential path for you is to join an established team to gain experience.

When investing in high cash-flow markets, I always recommend working with an investor friendly agent so you're able to gain the right insight on the different areas and the risks involved.

If you paid under $230k, you’d save $30k in federal capital gains taxes and maybe another $15k or more in state income taxes.

With new regulations in Canada like the flipping tax and property gains tax, I want to be mindful of the risks involved. 

we do the same thing Jay but we look at this as return on entitlement spend and return on land purchase. we separate the two measurements. for return on entitlement spend its the total value of the land gain proven through either an appraisal pre and post entitlement from an institutional level appraiser by Berkadia or sale price divided by all of the soft costs needed to get the site to the finish line. we look for sites that are at least a 5x and typically focus more on single parcel sites that aren't assemblages and do it by going vertical not horizontal. as many have said there is much more risk in this strategy that you are doing that led to a lot of bankruptcies. also focusing on the luxury in my opinion isn't a scalable strategy. 

we are build to rent developers in columbus ohio. we a direct builders for investors around the country. we don't sell on the open market we build from scratch and it's very relationship based. it's very different but I would consider us turnkey. we build at 75% of market value with land and investors can refinance out and do it again and gain approx 100k equity each time. ours is an infill triplex in columbus ohio. that's just my 2 cents. turnkey is deal by deal 

I control the price I buy at (equity gain at the buy), I can force appreciation on my own terms, I get the monthly cashflow, I get direct tax benefits, appreciation and loan paydown that directly affects my net worth since I own the asset.

What would the capital gains be on the sale of each lot?