It's a completely parasitic relationship. 

Please also post the map when you complete it!

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

Sounds like I've got the plan all laid out in front of me. 

@Micah HuffmanFrom what you have said here, it sounds like you have your hands on a very good investment property/opportunity.

Joe is right, it sounds like if you sell, there may not be any capital gains.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

Remember if a deal sounds too good it probably is.

I'm going to give it a full 6 months of use before I pass a complete judgement on it.