Usually this is an easy decision as most cases trying to sell a brand new built and compete with builders on their own product is very difficult to due............unless the market has blown up from the time the contract was executed and the acquire time has experience a huge appreciation.  

But good thing about your case is you execute first before wondering about tax, most people is the other way around and never execute :)

Your plan is less important than whether you will be able to execute it or not. 

@Kevin DombrowskiIf you are in fact buying the property from your family member and they are executing an arms length one year lease with security deposit, for fair lease value, you should be able to both get a fix and flip loan as well as also cash out at the completion of the construction project.

The tenant would simply need to execute the new mortgage... which he has every incentive to do given that it would be the source of his proceeds.

NDA required for full Executive Summary.Thank You.Joe Crawford

.#7: Focused Marketing - Be wise about how you execute marketing.

You sign as a member or executive of the LLC - put in your John Hancock but make sure the print reflects that you are acting on behalf of the LLC, not yourself.

Costco used to have a real nice program through their Executive Membership that saved a lot in closing costs (which alas, they have canceled.)

The rent to price ratio seemed good, so we underwrote it and executed the buy.