However, there are other loans designed for fixer uppers referred to us hard money loans, bridge loans, or fix and flip loans but whatever you want to call them they're essentially short term, interest only loans with no prepayment penalties designed to finance a higher % of your purchase price and typically all of your renovations not to exceed a certain % of the ARV (typically 75% max). 

Quote from @Danielle Levy: Lesson learned: provide the full story up front and you'll get better advice.If you feel there's a case, put together all the evidence.

Either way, there are several people who make this work all the time.

Q1: Great points, we'll need to have a detailed operating agreement that outlines an agreed approach to all potential outcomes.

To defer all tax you must purchase in total at least as much as your net sale.

We should grab coffee sometime 😄It all depends.

These are all good options.

Look forward to chatting with you all! 

Hey all, any land agent recommendations near Indiana - Lake County, if so please send PM

Most, if not all are in older neighborhoods without a HOA and on the bus line.