I am up in the windy city, Chicago.If you were simply reconfiguring the layout how would you be adding square footage, wouldn't it just be making it more functional? 

Additional beams can be added. 

When the taxpayers demolished their existing principal residence, built a new home on the land, and sold it before ever occupying it, the Tax Court ruled the gain resulting from the sale of the never-occupied home did not qualify for exclusion under IRC Sec. 121 (Court case: Gates).Not sure if Gates applies here, because nothing would be added to the formerly residential land, only removed from it.

There's a lot of nuance to that, but more to the point here:  I'm going to be focusing on on-market deals with some equity to be added, and also keeping my eyes out for other channels like wholesalers, direct mail market, and good ole word-of-mouth.How about you?

We charge around $1,399/night in the summer & $799/night in the winter.Stay tuned for more updates on this property: We will be adding many more features and amenities as time goes on including a hot tub, a , kayaks, and much more!

While googling best ways to appreciate house and reading multiple books on the subject, I will be adding a 4th bedroom, all new flooring, adding space to living area, paint and other more specific things Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not 100% sure if Gates applies here, because nothing would be added to the formerly residential land, only removed from it.

We’ll be adding about 700 feet of additional living space and that’ll be used as an unofficial fifth unit.  

So in my letter I had a run down of the deposit they paid, the amount due, and at the bottom it said the amount of deposit returned was $0.00 and the amount further owed was something like $8,000 (again, nothing from before the bankruptcy could be added).

The Desktop Appraisal worth $250.00 is going to be added to the fees on this Term Sheet.