Some of your renovations can be expenses and some may need to be capitalized.

In my market, the multi families are very expensive and the SFH with the MIL basements usually pencil out better. 

Unfortunately, you'll just need to get your pencil out and grab every expense possible in preparing this for sale.

With an average build time of 4 months.

Based on that math yes, you'd clear a couple hundred dollars after all debts and expenses, not the worst spot to be if you're not necessarily needing the cashflow/trying to live off of it, but instead are focusing on playing the long game. 

Unless you can prove to the irs that the acres you sold were better than average.

.- by average, in 2023 the vacancy nationwide goes down similar to pre covid which is 52%.

If timeframe is a concern we do have a 14 day close option, it is more expensive in rate & fee but sometimes it's needed!

If a guest is adamant about viewing in person, we usually set up a showing at the guest's expense.

Seems like these loans are very expensive.