Even though it sounds like your costs don't include your own labor (and no contractor markup) it still seems an outstanding return.

Additionally if he has an outstanding warrant..

In 5 minutes you can find a list of the biggest tax credit developers, nation-wide.

Nationwide Children's hospital is investing $3.3+ billion dollars which will drive the prices up in Southern Orchards, Driving Park, Old North, Franklin Park and Old Towne East. https://www.dispatch.com/story...2.

I list this one because I am not a developer and do not plan to make use of this sophisticated value add opportunity  Nationwide I suspect there are hundreds of these less obvious value adds that smart/sophisticated investors can leverage.  

Both have been absolutely outstanding.

. :)   If this will not stop you, @Alicia Yoder - feel free to reach out.These days, we real estate accountants work remotely and nationwide.

I'm not sure if it's just here in a Florida or nationwide, but most people DON'T know this: apparently the law changed where you can shop for 60 days with ONE credit pull.

This tactic as we all know, will help reduce taxes once it is sold (this will not be an indefinite hold property) since the proceeds will be "less" the outstanding mortgage.

@Brittany DaubnerHere is a BiggerPockets directory of tax experts, we all work nationwide.