After the improvements, the property was staged and marketed to retail buyers.

We have an opportunity coming up from a family member who is willing to sell us my childhood home for what they got it for (240k) and the comps in that neighborhood are 600k+.

🤝 Are you pre-selling lots, using land bank agreements, or working with institutional funds?

He was also in escrow to sell the house as a busted flip, as-is.

When we were selling, people loved the "aged" look, and it was a big selling point for that house.

A clean-out at the property line is the norm around here.

I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?

Raise the $600K, do the pre-development work, then “sell” the property to NewCo.  

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 Purchased off-market from a tired landlord, this fix-and-flip involved renovating a distressed property with outdated features and deferred maintenance.

If they can get what they want, they'll sell - often trading up for a larger property by way of 1031 exchange.