Can I still deduct all renovation costs from the profit in regards to paying taxes on the profit. 

I am a real estate agent who toured numerous homes on driftwood.

Options beg the question "on what terms", which is why many fill out an earnest money contract to define the terms. 

Is having debt not reported on credit is your priority?

On a 4,650 sqft property listed at $1.1M, that's $116K - $140K per year in Gross Rents, and after NNNs, I believe I'm looking at a 10-12% Cap Rate on asking price.

the market is unforgiving right now, and if you buy a random property by looking on Zillow and turn it over to people you don't know to manage, you'll lose money.with respect to your specific question, if the property is safe, clean, and priced correctly, it will rent. but that doesn't mean you'll make money on it. 

It’s crucial to stay disciplined here, as overspending on land can limit the funds available for construction and other expenses.Development Scale: I’d recommend avoiding developments in the range of 4-50 units unless you have a very specific reason.

Which strategy would be the most suitable to begin with, focusing on long-term growth?

So that was a low hurdle to improve on.

I love real estate and am devouring anything I can find on the subject of investing.