Feedback on business model

[Brent Meredith]

Hey Everyone, 

I'm new to real estate however my father is a well known architect who designs unique and beautiful homes with some high net worth clients. I've recently considered starting a real estate investment firm that would buy coastal properties in CA and renovate or complete tear down with designs from my fathers architecture firm. My estimates on 6 of his homes saw the lowest ROI to be 20% and the highest to be 140% in 2-3 year cycles. Average home being upwards of $2M. I'm curious if there is anyone else out there that takes this approach of higher end design remodeling or tear downs? I am also unsure if the returns I'm looking at would be aligned with what investors are looking for. Just looking for feedback. Anything is helpful!

Thanks