If you property has been your primary residence and it's been less than 24 months, you may decide to hold off until you’ve reached that threshold to avoid capital gains tax (unless you are okay with opting for 1031 exchange or doing QOZ Fund)If you still decide to sell your property within 2 years, try to stretch your ownership out to at least 12 months, or your profit will be taxed as ordinary income.

Keep in mind by building and then selling the home you are going to be taxed at STCG (effectively ordinary income) whereas the land, could be taxed at LTCG.

With this many units there is always turnover, but nothing out of the ordinary.

One very important point is if your real estate activity is passive or ordinary. 

Could readily be up to 40% in taxes depending on the circumstances.Assuming this project was gone into with the intention of flipping it (that is the wording you used at least), it is self-employment type income subject to ordinary income tax rates and self employment tax. 

Hi all,I've been reading about the Passive Activity rules that prevent passive losses (eg Depreciation) from being offset against ordinary income.

You will have to pay ordinary income tax on distributions from Traditional IRA.

For any business deduction, it needs to have a business purpose and be "ordinary and necessary."

So, the profit is taxed as ordinary income, including self-employment tax.Hope that helps. 

Quote from @Sean McKee: Ordinary wear-and-tear on a 1bed apartment shouldn't be more than $200 per year, and that's being generous.I manage around 150 class-C rentals and over 80% of my renters get their full deposit back.