So your 25% ROI may not actually be that high when you factor in high turnovers rates, high property management costs, and unexpected capital improvements.

Basis = what you paid + capital improvements - depreciation to date.  

Sometimes you can get some really good deals on the laminate and install is pretty easy - no expertise needed (except read the directions and stagger the joints)..Hope your rehab is a great success!!  

He could stay on title with Joint Tenants or Tenants in Common but the whole future cash flow split thing, I think  is still a bad idea.  

Taxes will be around 20% of your actual profit (sales proceeds minus purchasse price/costs, plus any improvements you did).  

They start coming out in the spring when there is a huge push for home improvement.  

Lots of rough areas but lately getting an infusion of improvement.

I have an opportunity to do a joint venture with a partner, that is, flipping a house.

House hack a  4 plex, improve credit score to 700, triple my income from last yearProgress towards this goal:Working on increasing my income from my career in real estate and also doing some credit repair this will help me more so for the upcoming years and help gain some credibility with lenders.

if you have an option you don't own it If the builder wants the lot why don't you try to joint venture with him Change the lease with option to a subject to and a single payment note  at a price the owner of the lot would like @Sherri Southwellundefined