There is a lot of discussion about what jobs will be lost and created with AI.  There is discussion that eventually no jobs will be necessary which is an entirely different discussion.  I can think of some obvious cit...

Instead, ask your accountant to write a letter of explanation for your finances that adds back depreciation and capital improvements rather than expenses.

So, there is even more risk.The things that you can do, include being properly capitalized, not be greedy, (in whichever way that may be defined in the county you are buying), know solicitation laws, know Dodd-Frank, the Consumer Protection Act, the S.A.F.E.

But even to this day the money is always the winner not me.. thats how you raise significant capital ..

Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

Was the refinancing done and capital returned in year 3?

There's also plenty of lenders who falsely represent the true capital requirements to originate their loans or are merely up front fee collectors. 

It may take 1-2 years and by the end you will have forced some appreciation from the renovations but also got some natural appreciation from the market.

ya Open door capital struggles are well documented..

Is an IRA subject to capital gains tax?