And you cannot exchange into improvements on property you own.  

Personally, I'm not a fan of nickel and diming contractors on their work because well...they will end up nickel and diming me on the quality/effort they put into the job I've found. 

Husband's job called for an Indy adventure, and who am I to say no to cornfields and basketball mania?

Therefore, the consideration is to create a new entity with the same ownership structure as the borrower, sell the improvable parcel to this new entity, and have the new entity construct the new  units, in hopes that the 2 entities can merge back together when the loan is refinanced in 10 years. 

Real estate home loans can be safely secured for 30 years, as the value of the land  itself should rise enough to offset the 2-3% annual depreciation of the improvements.  

Great job.

He said House 1 could be completed for approximately $100/sqft, House 2 to build from the ground up $115/sqft.Based on a rough SOW for the small house, I estimate it needs +/- $15,000 in work to improve the condition/rehab.

Hi there, not sure if this is the right forum, but I'm interested in starting a real state service business on the side (I have a full time job and rental properties), and recently came across a carpet/ flooring cleaning company in Austin TX that is in the market for sale, the owner started this business a few months ago and ran that for 3-4 months, the demand was solid for the start (revenue around $20k/month with one truck/van), he wanted to expand but got into family emergency issues and now he's selling the business, there are no financial statements as he says he's basically selling the assets (van, machines etc.).

The main question (in my opinion) is about the number of jobs being created there.

As a renter, it is their job to make sure the pipes don't freeze.