It may hold true for other areas of life, and maybe even other areas of investing, but I don't see any application to ground up construction.

Because they might bring fakes or altered documents; computer software these days is inexpensive enough to make this more feasible for anybody to do.

We have been involved in numerous audit matters and expert witness/deposition testimony where the fact that the investor did not report it on Schedule E was repeatedly brought up as evidence or proof that the investor did not have the intent to hold as investment property.

Born and raised in Agriculture, will be focused on that industry throughout my life.

I live with MS and financial freedom is not a desire but a necessity in my life for this reason.

If you get them in the phone, learn what going with them in their personal life.

I agree with Ben: DO NOT DO THIS UNTIL YOU HAVE MORE KNOWLEDGE.There are numerous possible legal and financial issues.

I posed two questions awhile ago I asked is there life after modification for investors, I had one faithful BP mod respond, second I asked this question 7 years ago of Henry Savage a columnist with the Washington Times Home Guide.

You may wanna consider starting a "Member Blog" about your remodeling process - http://www.biggerpockets.com/blogs - as I think case studies and real life stories are so great for learning from.

Some good free books on Amazon are "Real-Estate made easy" by Brian Haskins "The Ultimate Real Estate Investing Blueprint" by Sean Terry "No Bs Real-Estate Investing" By Preston Ely and "Flipping Houses Exposed: 34 Weeks In The Life Of A Successful House Flipper" by Danny Johnson.