Owner builder sale restriction
Need some ideas/suggestions. I recently JV'd on a project with a homeowner with intent to sell upon completion.
I financed the remaining 30% of a new build. Plan was to have my contractor take over the building permit thus avoiding the 1 year sale restriction for Owner Builder.
Just found out that the current permits were pulled over 3 years ago. Local regulations provide up to 3 years for contractors to final their builds. Owner builders have 5 years to complete. Sticking with Owner builder permits is my only option.
Is there any creative way around this sale restriction?