I actually tried to beg the city to let us sell it to the fire dept to burn it down for "training". 

(Sale price - selling costs) -(purchase price+ purchase costs)- renovations = taxable gain. 

The best way to start is by surrounding yourself with people who are already doing what you’re trying to do.

Instead of keeping them, I'd look to sell them and buy something more suitable as a long term rental.If you want to know why I have such a strong opinion on this, just google the following: - HOA Special Assessment - Florida Condos 2024 - search for news on the new laws - Zombie Condos

Probably better to post in the Buying & Selling Real Estate Forum.Without details, hard to answer the question.

Ive been asked numerous times by folks if I could act as their GC for build-to-rent/build-to-sell properties.- How would this work from a lending perspective?

(It was Hollywood and everybody has dogs)2) Somebody tried selling the appliances that came with the unit which included the fridge, dishwasher, stove & microwave.3) We were recently affected by the fires and had to evacuate, some tenants refused to evacuate even after police forced them to because they were "tougher than the fire".Have you heard of those horror stories about tenants completely trashing apartments and feces all over the apartment?

Just ask the owner what are you going to do with the money if you sell for cash??

I have 2 options:- finance the construction pre-selling the apt, and take my profits (expected to be around 700K pre-tax); or- finance the construction with a 6-7%/year loan (collateral = my house), keep the 10 units, and once the building is completed in 24 months, rent them for circa 180K/ year gross.

This requires careful structuring and compliance with IRS rules.Installment Sales or Buyouts – Instead of distributing properties outright, investors can sell or buy out their respective shares over time, spreading out tax liability and reducing immediate capital gains impact.LLC Restructuring (State-Specific) – Converting the corporation into an LLC taxed as a partnership may allow for a more tax-efficient asset distribution.