The team is the most important part.

It added far less value than the cost of the addition.  

Leverage will be based on whether the land is entitled and borrower track record but 50-60% is the norm, not 80%.

Glad to have you on the forum, Elwin! 

I know the deferment period for capital gains is almost up, but what are the pros and Cons of an OZF vs a traditional 1031?

Conventional financing How did you add value to the deal?

Cash from a self directed IRA How did you add value to the deal?

Depending on the construction, you have to do major upgrades on electric, plan for plumbing for apartments which may not be permitted in the area for the sewer or septic.

Purchase price: $232,000 Cash invested: $200,000 Sale price: $575,000 I purchased this single-family property and undertook extensive renovations, including excavating a new foundation and reframing the entire two-story house.

As mentioned have an attorney or title company draft the note and mortgage.