I'll also consider selling to another LLC, but for now the nice feature of this limit is it is forcing us to make good decisions on priorities for renovations.  

I priced the property on the MLS based on CMA (what has sold and what's currently on the market), and based on the features and what's presently available, I think it's reasonably priced with very little margin.

Houses in the area of the vacant house with about the same features and size sell for $240k to $280k. 

Welcome to BP @Mark Gee Find and network with local investors using find feature!

Welcome to BP @Jeanelle Garcia Find and network with local investors using find feature!

I have a passion for house renovations and that is what led me into real estate investing, but once I started attending some seminars the speakers always discussed how 'easy' wholesaling is and how it should be where you start. 

Find and network with local investors using find feature!

But, the problem is most likely price, unless there is some negative feature that can be overcome, but the safe bet is price.

What would it cost to build a 2000 sq ft, 2 story with a basement SFR with middle of the road features on a flat lot.

You should really be telling him what you budget is and make sure that he doesn't go wild with features that you can't afford.