. §1.165-9(b)Property converted from personal use(1) If property purchased or constructed by the taxpayer for use as his personal residence is, prior to its sale, rented or otherwise appropriated to income-producing purposes and is used for such purposes up to the time of its sale, a loss sustained on the sale of the property shall be allowed as a deduction under section 165(a).(2) The loss allowed under this paragraph upon the sale of the property shall be the excess of the adjusted basis prescribed in § 1.1011-1 for determining loss over the amount realized from the sale.

In our day-to-day we run a local construction company (roofing and exteriors), so it's very rare that we come across a property that will scare us off from a rehab standpoint.  

I purchased the park for $125K, putting 25K down and financing the rest with a local bank.When I put it under contract, there were 15 trailers in the park, each paying monthly while they worked energy and construction jobs in the area.

My day job is owner of a construction company, roofing specifically.

I want to start partnering more and I am curious about different constructs.

Since I was 16 I have done construction on some form (roofer, electrical, siding, windows etc).

I used to study architecture but I found out I like the role of developer more in the entire real estate/construction process.

Interesting approach they’re taking, but makes sense with new construction and existing home prices being so close. 

and why i don't agree with those that say a personal home is  a liability.. those liabilities have made me more than 2 mil in tax free gains since i bought my first house in Milpitas in 1978.. for 81k.. and it was new construction Shapell home which bay area folks know they build a nice home.but I like many others have my frugal peccadilloes  i was tearing paper towels in half before they finally got smart and perforated them that way..

Nurses, specialty welders, industrial maintenance, construction crews, etc.