Welcome to bigger pockets, fabulous place to gain insights into real estate.We are in your back yard, we buy rehab and sell, we don't do rentals.What kind of deals are you looking for, rentals?

I am very interested in using my license to help others gain the freedom real estate can bring, building relationships with others, and forming partnerships to do deals together.Thank you all!

So you have $1,500,000 into the property and a gain of $187,500 for your time and trouble. 

I should be able to gain access this weekend with my GC, so that should help give me insight.

You'll end up using your knowledge to gain better dimensions to your final goal.

I hope I can gain as much knowledge from each of you.

Capital gains taxes?

I don't see how the Seller gains anything here. 

If we built a spec house we could either sell when finished and take the tax hit on gains or 1031 exchange it, or live in it for two years (before or after construction) and qualify for the full capital gains exemption because we lived there for a few years before it was a rental.  

ROI is approximately 6 to 7 years, so any utility savings after that is a gain...I really don't care after 6++ years as I may not keep the apt, so it might be a value add when selling [also NOI would be better after smaller utility bill].