I won't say that prices aren't exorbitant in Vancouver but I think there are fundamental forces driving these price gains.

Brother and sister sold for 200k they owed 20% capital gain on 190k "carry over basis" if they would have waited their basis would be stepped up on date of death to the fair market value of property or 200k so they would owe no tax on the sale of the property.  

Because I'm a licensed contractor I believe there are substantial gains to be made - building :ground-up" apartment communities. 

I'm completely new to the world of real estate and plan on using my license as a way of gaining experience for my own investment deals.

I read that the Gates decision says that if I tear down the old house to build the first two then I lose the capital gains exclusion.My question is: Is there a way to structure an arms-length partnership to buy the house and two lots - allowing the exclusion - but then also allowing me to gain some of the upside of the new home sales?

I will definitely make it happen as an investor once I gain knowledge and understanding of the business.

Do some research, learn, read some articles, and keep gaining knowledge to help you identify what area of real estate you may want to focus on.  

Underwriting to IRR requires projecting how and when we will gain appreciation, either organic or forced, which is also important since CF on it's own cannot facilitate enough ROI.

But if it's an area you're not too familiar with and you're looking to gain some more insights, you might find it helpful.Alright.. best of luck!

I am working with the local zoning and permitting committee first to see if I can gain another permit.