@Nathan Gesner It's no use helping here.

While you rent the other side of the duplex out.Voila - No tax paid. 

Hey @Matt Smith 👋🏽I agree that it's not worth renovating the basement - too costly.

Cost efficiency while enhancing the design and functionality of the property What was the outcome?

Whether to build on your lots now or wait depends on a few things: construction costs, rental demand, and your financing options.

The end product will be great, as others have mentioned perhaps in other threads, Delta has not increased any of the cost, so there is still a huge equity upside.

With regards to your example about plaster vs. drywall most insurance policies no longer will pay for the plaster whether you have a public adjuster or not. 

You are only adding complications and costs with the LLC with no upside  This is all assuming there’s been almost zero appreciation and you shouldn’t sell tax free while you have the chance. 

And cost is not coming down.

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.