There are some scenarios which can change the equation and take priority over the opportunity cost equation demonstrated above.  

I’ve heard about ‘gap funding’ for fix & flips to cover down/closing/holding costs in addition to the hard money loan for most of the purchase price & rehab, but how realistic is it to secure that type of funding?

You seem “golden” in any court case when the city inspector was out and didn’t notice it, they didn’t notice it, and you twice agreed to let them go at no cost. 

Obviously aside from minor material cost savings the biggest reason is to save labor on all of the cutting in, which I feel would likely be moot with 3 sheens.

It's going to cost about $550k to build and it has already appraised well over $800k.

Quick Turnaround: Whole-tailing allows for rapid transactions, minimizing holding costs.

Be sure to no only account for the cost of the cash for keys but your additional holding costs while you have to wait to get them out.

@Andrew GarrettI’ve been investing in NC for a while, the main issue with Raleigh is rents are low compared to costs of homes.

I also suggest that the tenant install a camera that stores videos of the driveway, then when tenant has proof, you can send notice to owner next door that he is to eliminate hazards he is creating, or you will sue for damages, especially if it costs you tenants, as they can’t afford and shouldn’t have to deal with repeated damage.

Was the owner doing his own repairs and hiding the costs?