Having dealt with smokers who dont think butts are trash and twenty something slobs I empathise, your best bet is get them out.

The days the angel investor realize they are betting on non-profitable companies in SFBA are not too far.

Even if you have to look outside of your immediate area to make that happen, that may be the best bet.

I'd imagine selling + 1031 exchange would be your best bet, although you can probably get an 80% ltv line of credit through Penfed if you want a different route.

Hi Everyone, I own a house in south jersey that I am looking to get a construction loan on. 

I intend to rent for two years then rip that carpet our, change the counter tops etc and saleIn addition, I imagine I’m allowed to use a bridge type loan where I term out the original construction loan to , say 20 Years.

See where rehabs and new construction are taking place.

@Paul WinkaThe IRS has a terminology of "constructive receipt".If you have the control or means to collect the principal and interest upon the close of a transaction - then you should report the interest income.If the terms of the loan is lending $100,000 at 10% with interest and principal to be paid in 1 year.

I have a friend who purchased an empty lot a few years ago, developed plans for around 200 apartments to be built, but didn't have the resources to cover the construction/interest costs until revenue could be generated. 

But with new multifamilies properties being constructed like crazy in my area (Ohio), I cant help but wonder; why?