full gut and rebuild, or a duplex conversion for a 5 year hold?
this is my dilemma recently; eyeing for two deals at little Italy and Danforth area; one is a detached full gut on Danforth which is listed at 1.5; I will probably offer for 1.3 to see if I get it, and need 700k cash to do a full rebuild for 18 to 24 months then sell hopefully at 2.6-7; the other opportunity is at little Italy at about 1.3 purchase price for a semi and do a duplex conversion for 250k reno and hold for 5 years for natural appreciation; which one should I do?