I have done it successfully on my last 2 buildouts, maybe 3, but only because I was able to acquire the properties at a very low price and I did all the work in-house (myself and some hired hands on staff).

So I would caution everyone to make sure the replacement cost for your improvements will realistically cover your actual replacement cost in the event of a total loss.

with the information provided can someone please give me our cost basis so I can figure total capital gains?

Feel free to check us out at ComfortCapital.com.Regarding Sunrise, they’re a credible operator—Kevin is a smart guy, and we share a handful of investors.

@Marc Shin,Totally agree with what Alberto stated above.

However, This was a gut rehab on a 8k total sqft building.

While we were onboarding the property to the system and trying to figure out the automated sprinklers, he was out there every day watering the lawn by hand, stopping the buck and taking personal responsibility. 

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

And if this represented my total portfolio, it would be like starting over.  

I have contacted family members in the past with literal hand written letters.