Assume brand new floors the day you purchase.

My e-mail address is on my profile.

Even if this house is brand new you will still encounter issues.

Property is 1,148sqft, 3bed, 2bath, family/living room, kitchen/laundry.Work that i would like to do:- brand new kitchen- 2 brand new baths- all cosmetics brand new- some if not all windows need to be replaced- convert from wall furnace to central A/C and heat- raising ceiling from 8' to 9' - new roof- want brand new modern exterior look- landscaping and maybe a new driveway- water/drainage/gas piping condition unknown.  

Many would pay $4k a month for a shoebox that feels brand new vs a bigger space that is outdated or not too clean. 

There is one IRS-approved method for building or improving that uses 1031 funds.Construction 1031 Rules and Process In a nutshell, it goes like this:You go under contract to purchase the replacement lot in OklahomaA 1031 company creates a brand new LLC to act as holding company (Exchange Accommodation Titleholder)You enter into an agreement with 1031 company outlining your plans in the construction exchange You assign the purchase contract for the lot to the new LLCYou arrange financing for the LLC to purchase the lot (this loan can be from you, a third-party lender, or your 1031 sale proceeds)Loans to LLC is secured by Note and Deed of TrustLLC buys the lotNow the LLC can begin paying for improvements to construct the barn-condoDuring the building period, LLC rents back to you and makes you "Project Manager" to oversee the improvements.Once improvements are completed -- or at the end of your 180 days -- 1031 company assigns ownership of the LLC to you. 

There are brand new build 200+ unit complexes going up without pools that lease up well. 

Once we graduate we are planning on moving to the Washington DC area, to start our careers and we would like to keep this property and rent it out.I am BRAND NEW at this and I was wondering what are some do's and don'ts of the whole process.

The average P/E of the stock market historically is about where it is RIGHT NOW ( around 16) so I would say things are not heavily overvalued or undervalued right now. 

Hence, our client and new property owner was able to acquire four (4) brand new package rooftop units at an estimated cost of $36,000 to $42,000 not to mention manufacturer equipment warranties all of which resulted from a PCA paid for in the amount of $1,500.