You don’t need to be someone that owns $100M worth of real estate unless that’s really your goal. 

Remember, if you decide to sell in a few years, any bonus depreciation comes back as ordinary income. 

If you are going to have this asset for a long time it'll be worth the peace of mind knowing its updated. 

In some areas with low water cost the expense of splitting may not be worth it.

I'd bet that this note is worth more to you than to most buyers until the note is much lower LTV, but I'm a novice in this space.

I hope I laid this out in an understandable way but I say all of that to say is it worth trying to find a mentor whose already well versed in GC who’d be willing to coach me in my home build.

@JC Wu,You have to remember one thing in this forum post, Roofstock is a marketplace where other sellers list their properties.  

I can't remember the last time I read a forum post about an actual transaction...the posts are almost all about "the market".

Has anyone had any luck with this and is it worth it?

I have an interior design background and can make this property really cute, but is it worth it?