If it's not, it's possible the client has Basic Form, which excludes Theft. 

My Chattanooga duplexes were my first investments EVER (excluding my house hack), and it threw me in the ringer, for me personally struggle, and fear of loss puts me into fight or flight and I soak up knowledge and networked like crazy to make sure my investments would come out ok! 

OP expenses excluding cap ex on my commercial multis (7-10 unit) properties run about 33%.

They wanted nothing to do with it due to the environmental risks and even said they would specifically exclude that from any lending. 

@John PelaezAshish hit it on the nailThe answer in tax is that it depends especially since you didn't provide detail on the "property"If the property was a personal residence - you may be able to exclude a portion of the gain if you lived there for 2 out of the last 5 yearsIf the property was a flip - the gain is ordinary and not eligible to be deferred.If the property was a rental property - the capital gains rate will be 0%, 15% or 20% depending on what tax bracket you fall into and if you held it for more than 1 year.You would have needed to contact a 1031 intermediary BEFORE the sale to potentially defer the gain.

Is that price for the building from grading to finish with interior finish pricing, excluding garage/decking?

I read that it is possible to receive a lesser tax exclusion if you live in the house less than two years (1 year means you could exclude 50% of the $250,000 max). 

It's been a while since I looked it up, but I'm nearly certain spouses are excluded from that (DoS when adding a spouse to title).

. § 1.469-1T(e)(3)(ii)(A) specifically excluded the activity as a rental activity,"Pub 925 Clarifies this- It's specifically not a rental activity with average rent time 7 days or less. https://www.irs.gov/pub/irs-pdf/p925.pdf

One of the challenges in nailing down a price per foot right now is two fold - everyone has a different idea of the "cost" to build - some will just include the hard number, others provide the all inclusive (demo to doorbell) soft and hard costs - everything excluding land, closing and financing costs.